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USD/CAD Support Expected at 1.0163/88

Jamie Saettele, CMT

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, USD/CAD Support Expected at 1.0163/88

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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FOREXAnalysis: The USDCAD has struggled after the break above trendline resistance. As such, the market may be preparing for a drop to correct the sharp advance from 1.0082. 1.0163/88 is estimated as support. The topside of the broken resistance line crosses the zone for the rest of the week.

FOREXTrading Strategy: Want to get long on a dip at 1.0190.

LEVELS: 1.0103 1.0163 1.0188 1.0263 1.0342 1.0407

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