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USDCAD 9925 is Resistance if Reached

USDCAD 9925 is Resistance if Reached

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD 9925 is Resistance if Reached

Prepared by Jamie Saettele, CMT

The multi month USDCAD range has been resolved to the downside therefore my bias is to the downside. Today’s advance off of GDP offers an opportunity to align with the larger downtrend. Resistance extends to 9925 and risk on shorts should be above 9980.

Ideas: short, stop 9980

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