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USD/CAD Holds Important 1.0400 Level

USD/CAD Holds Important 1.0400 Level

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_usd-cad_body_Picture_5.png, USD/CAD Holds Important 1.0400 Level

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-USDCAD has pulled back from the line that crosses the July and August highs. A break above that line would warrant a bullish bias.

-An early month low is in place at 1.0397. Weakness below there would shift focus to channel support closer to 1.0350.

Trading Strategy: Flat

LEVELS: 1.0365 1.0397 1.0428 | 1.0484 1.0525 1.0567

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.