USDCAD Takes Out January High
Prepared by Jamie Saettele, CMT
The USDCAD took out the 1/9 high today to confirm an intrayear reversal for 2012. Like everything else, USD weakness should be viewed as countertrend and traders ought to look to identify support in early June. 10205/60 are levels to keep in mind. Notice the 2 potentially powerful 2 year inverse head and shoulders pattern. The neckline is at about 10565 this month.
LEVELS: 10150 10205 10260 10423 10523 10657