USDCAD Support Line at 1.2130

Published March 23rd, 2009 - 11:33 GMT
Al Bawaba
Al Bawaba

The USDCAD did exceed its wave 3 terminus on March 9, so it is possible that 5 waves up from .9055 are complete.  Still, as long as price is above 1.2020, there is the possibility that wave 5 will extend towards 1.40.  There is potential support from a line drawn off of the November 5th and January 6th lows at 1.2130 tomorrow.