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USDCAD Focus is on 2012 High at 10318

USDCAD Focus is on 2012 High at 10318

2012-05-22 17:25:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Focus is on 2012 High at 10318

Prepared by Jamie Saettele, CMT

The USDCAD has broken cleanly through trendline resistance and focus is on the January high at 10318 as long as price is above 10150. A drop below there would suggest that a larger correction is underway towards 10060-10100. Former trendline resistance is now a level to watch as support as well.

LEVELS: 10318 10245 1015010132 10104 10063

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

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