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USDCAD Resistance is above 10100

USDCAD Resistance is above 10100

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Resistance is above 10100

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

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