USDCAD. Look for support at 1.0307 area

Written March 4, 2010 at 10:59 AM EST by  

gregmike-00724

The USDCAD made new lows today and has bounced higher. The price is above the low from March 2nd at the 1.0307 level and this area is now support for the pair.  The 100 (1.0305) and and 200 bar MAs (1.0311) on the 5 minute chart are at the area and they too should provide a level to buy against.  If the price goes below the level, the bias turns back down. Key level for dip/countertrend buyers.

gregmike-00725

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