02 August 2010

USD/CAD : Squared and Watching 1.0200

  • Strong start to CAD for the week. Last Friday close 1.0297. Now 1.0229.
  • On the weekly chart, there is a triangle support line at 1.0278 that has just broken but I was hesitant to go with that as there seems to be a lot of support around 1.0200.
  • Just squared balance of half the original short USD/CAD from 1.0582 here.
  • Plan now is to sell towards 1.0300 or go with a closing break below 1.0200.

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