Canadian Dollar 10050 Proving Strong as Pivot

Daily Bars

Prepared by Jamie Saettele, CMT

No change: “Resistance at 10048 is reinforced by a series of daily lows from December and January. Last week’s sharp reversal keeps focus on the downside towards lows in September and August at 9775 and 9725. Bigger picture, the decline from the October high is viewed as a correction (A, triangle B, C) that is expected to terminate near the mentioned 9725/75.”

Bottom Line – Lower