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Canadian Dollar Coils

Canadian Dollar Coils

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, Canadian Dollar Coils

Prepared by Jamie Saettele, CMT

The USDCAD is nearing the top of its monthly range (which is small) of 10048. Resistance at 10048 is reinforced by the 100% extension of the rally from the low. 10050/75 is also a series of daily lows from December and January. Volatility is exceptionally low which is not conducive to breakouts so expect resistance to hold in the mentioned area.

Bottom Line – flat

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