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USD/CAD 1.0485-1.0500 is Support on a Pullback

USD/CAD 1.0485-1.0500 is Support on a Pullback

Jamie Saettele, CMT, Sr. Technical Strategist


eliottWaves_usd-cad_body_Picture_5.png, USD/CAD 1.0485-1.0500 is Support on a Pullback

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-USDCAD has broken above the line that extends off of the Jul and Aug highs. Price now faces the Aug and Jul highs at 1.0567 and 1.0608.

-1.0485-1.0500 is estimated support in the event of a pullback.

Trading Strategy: Will either be playing a breakout at higher levels, or establishing a long after a pullback and hold into 1.0485-1.0500.

LEVELS: 1.0445 1.0484 1.0517 | 1.0570 1.0608 1.0657

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for

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