USDCAD Holds Short Term Fibonacci Retracement
Prepared by Jamie Saettele, CMT
“The USDCAD traded 9 pips below the 6/7 low on Sunday night before reversing sharply. Support at the low is reinforced by the 20 day average and 5/29 low. The RSI reversal signal is also bullish. 10360 is the first level that could provoke a reaction.” There is no change other than to note that the USDCAD slipped just below the 61.8% retracement of the rally from 10200 before reversing on Wednesday. That is a bullish tendency but 10200 remains key.
LEVELS: 10150 10200 10240 10300 10355 10445
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.