USD/CAD Month Open at 1.0276 Possible Support
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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FOREXAnalysis: Wrote yesterday that “price has taken out the mid-July pivot highs which may be enough to inspire a small correction lower.” From about 10 am to 1 pm (NY) the USDCAD dropped over 100 pips. The move is certainly impulsive but it could complete a flat correction from the 8/2 high. The month open at 1.0276 is support. Employment is tomorrow.
FOREXTrading Strategy: Flat
LEVELS: 1.0173 1.0245 1.0276 1.0362 1.0422 1.0444