USDCAD Sliding Down the Line

The USDCAD did not like what the FOMC was selling today.  The pair moved down by over 100 pips following the FOMC announcement.  The cross is now resting below its descending trend line and could pullback in the near term.  Below the .9725 level support does not really begin until around .94.

Sup  TL  .9690       94

Res  .9725

Keane Plan.  Lots of this air until .94.  But should ride the trendline lower.

 

To Access Yen Talk, Currency Watch Video, Current Trade Setups and Current Trades Via Twitter Feed Click HERE

Non subscribers can have a Free 1-week trial HERE

Leave a Reply