USDCAD January Pivot Holds For Now
Prepared by Jamie Saettele, CMT
The USDCAD nearly reached the 1/9 high of 10318 on Friday before turning lower. Like everything else, USD weakness should be viewed as countertrend but the specter of 5 waves up from 9799 suggests additional downside this week. Interim support is 10190 and stronger support is 10130/50.
LEVELS: 10070 10150 10190 10310 10425 10523
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.