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USDCAD Rips Higher from Range Low

USDCAD Rips Higher from Range Low

2012-05-07 22:04:00
Jamie Saettele, CMT, Sr. Technical Strategist
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60 Minute Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Rips Higher from Range Low

Prepared by Jamie Saettele, CMT

After trading to its lowest level since September, the USDCAD is now back to the center of its range. Sure, a bearish outcome is possible as long as price is below 10053 but the inability to put in an early month high leaves me on the sidelines.

Ideas:

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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