USD/CAD Support Near 1.0260 and Resistance Near 1.0330
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 then took out the 10/1 low. Watch for support from the 9/19 close (large volume day and large range reversal) at 1.0263.
-Weakness from the October high is impulsive. The suggestion is that strength proves corrective.
Trading Strategy: Flat
LEVELS: 1.0181 1.0222 1.0264 | 1.0330 1.0380 1.0396
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