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USDCAD Pauses Before Next Move

USDCAD Pauses Before Next Move

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Pauses Before Next Move

Prepared by Jamie Saettele, CMT

The USDCAD reversal from the confluence of channel support and the 50% retracement of the advance from 9799 has me looking towards the top of the channel near 10300. As is the case across the board, USD strength is favored as long as the USD July low is in place. In this case, that is 10100.

LEVELS: 10000 10046 10100 10185 10220 10250

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

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