Late Day Reversal in the USD/CAD
Written March 11, 2010 at 2:54 PM EST by Shawn Powell
A late day reversal in the USD/CAD, has seen the pair break below the 61.8% retracement level. The pair may test the next level of support at the March 10th low of 1.0214. A short term target below that will be the 1.0200 level. Key levels below that will be 1.0140 and 99.70 but it may be some time before the pair breaks Par. On the topside resistance will be found at the 100 Hour MA (blue line) at 1.0269 and then at the 200 MA at 1.0308.
Categories: Forex Trading |
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