USDCAD In A Channel

12 Jul
2012

The USDCAD has been channeling higher for the majority of the month.  The pair shot higher with risk today to test daily price resistance before quickly reversing track to challenge the bottom of trend line support.  Support now begins at the trend line at 1.0190 followed by daily support at 1.0165.  Resistance begins at 1.0250.

Sup         1.0190                     1.0165

Res          1.0250

Sup    1.01

The USDCAD has been channeling higher for most of the month of July.

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