USD/CAD 1.0485-1.0500 is Support on a Pullback
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-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.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.