USDCAD approaches the 2009/2010 low
Written March 10, 2010 at 11:10 AM EST by Greg Michalowski
USDCAD is approaching the low from 2010 and the low from 2009. The low price for 2010 was 1.0223. The low today reached 1.0214. The low from 2009 reached 1.0205. A break below is likely to solicit additional selling pressure for the pair.
On the topside, a move above 1.0234 will be eyed for the potential of a short covering rally. The market does seem caught long, however, given the sharp move lower today.
Categories: Forex Trading | Tags: USD/CAD
(Aug 30, 2010)
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