USDCAD Resistance is above 10100
240 Minute Bars
Prepared by Jamie Saettele, CMT
The USDCAD pattern from the June 1 high is a complex correction. The overlapping of waves highlights the corrective nature while the extent highlights the complexity. Currently below channel support and exhibiting a completed impulse (5 waves) at a small degree of trend, expectations are for a partial retracement of the decline from 10231 before a low is registered later in August. 10110/40 is resistance.
LEVELS: 9900 9940 9980 10060 10110 10140