Canadian Dollar 200 day Average at 9955

Daily Bars

Prepared by Jamie Saettele, CMT

Yesterday’s USDCAD reversal was completely retraced and a move above 10070 is still needed in order to trigger a bullish bias towards 10160/90. The 200 day average is at 9955 and should be watched closely for support. Price was last at the 200 day average on 9/16/11, which turned out to be the launching pad for the rally into the October high.

Bottom Line – flat