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USDCAD Support Zone Extends to 10220

USDCAD Support Zone Extends to 10220

2012-06-26 21:28:00
Jamie Saettele, CMT, Sr. Technical Strategist
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60 Minute Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Support Zone Extends to 10220

Prepared by Jamie Saettele, CMT

3 waves down from 10446 and 5 waves up from 10158 warrants a bullish USDCAD stance against 10158 towards 10446. Support is defined by 6/20 high at 10231 and 50%-61.8% retracements of the 10158-10318 rally at 10219/38. I expect formation of a secondary low this week.

LEVELS: 10160 10200 10220 10295 10318 10355

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

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