FOREX Technical Analysis: USDCAD Rebounds Before Estimated Support
Chart Prepared by Jamie Saettele, CMT
FOREXObservations: The USDCAD has traded sideways for 3 days at the late August high. The dip Wednesday reversed before the mentioned support zone (9844/77). 9763 remains the pivot.
FOREXTrading Strategy Implications: The market’s response before support is promising. Market risk remains higher for a break towards the 10200s although one can’t dismiss a drop into 9844/77.
LEVELS: 9763 9844 9877 9976 10024 10084