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USDCAD Resistance Expected above Parity

USDCAD Resistance Expected above Parity

2012-08-02 21:09:00
Jamie Saettele, CMT, Sr. Technical Strategist
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240 Minute Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Resistance Expected above Parity

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.” Look into the mentioned 10110/40 over the next few days.

LEVELS: 10002 10025 10054 10089 10110 10140

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