USD/CAD Trades into Resistance Zone and Falters
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
FOREXAnalysis: The trendline that extends off of the May 2010 and October 2011 highs pinpointed the USDCAD high. As long as price is below 1.0420, respect potential for a deeper correction of the advance from .9632. Yesterday’s cited resistance zone of 1.0226/61 held today so look lower.
FOREXTrading Strategy: Flat
LEVELS: 1.0013 1.0067 1.0152 1.0226 1.0261 1.0287
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