Canadian Dollar 10050 Would Trigger Breakout
Prepared by Jamie Saettele, CMT
The USDCAD breakdown last week has been completed retraced. One must respect the turnaround and consider the possibility that a thrust from a bearish triangle is complete. The real for bulls comes at the confluence of the 50 day average and recent range high at 10050. A bullish bias is warranted against 9840. 9960/80 is support.
Bottom Line (next 5 days) – higher
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.