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USDCAD 9840 Area is of Interest

USDCAD 9840 Area is of Interest

Jamie Saettele, CMT, Sr. Technical Strategist

240 Minute Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD 9840 Area is of Interest

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.” Probing 9800 for the 4th day in 5, expect a break and test of 9840 (2 extensions and former support). If the market doesn’t respond there, then 9930 is the next level. 9780-9800 is support.

LEVELS: 9692 9756 9780 9840 9900 9930

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