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USDCAD April Low Continues to Serve as Resistance

USDCAD April Low Continues to Serve as Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD April Low Continues to Serve as Resistance

Prepared by Jamie Saettele, CMT

“The USDCAD is actually showing the most reversal evidence with a key reversal on 9/14 and large range day (indicating possible exhaustion) on 9.13. Still, the pivot is 9918 and the trend is considered down against that level.” Bulls continue to struggle above 9800 and the 20 day average is now in play as reinforcement. Focus should remain on another drop towards 9600.

LEVELS: 9580 9632 9724 9800 9818 9842

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

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