USD/CAD 1.0260s Remains Possible Support Area
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-USDCAD rally reversed at the confluence of the line that extends off of the June and July lows and short term channel resistance. The level is also the May high.
-The USDCAD broke the channel that defines action from the Sep low last Wednesday and took out the 10/1 low today. Watch for support from the 9/19 close (large volume day and large range reversal) at 1.0263.
Trading Strategy: Flat
LEVELS: 1.0181 1.0222 1.0264 | 1.0330 1.0380 1.0396
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.