| USD-CAD Technical - 24/March |
| Written by Praful Patat |
| Thursday, 24 March 2011 05:25 |
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USDCAD backed from Fib 61.8% at 0.9907, extension at 0.9561, 0.9478 still in progress on daily chart. In USDCAD minor support at 0.9784, if not break of 0.9784 support then again retrace will happen and break of 0.9863 resistance, trend will change from down to up side. USDCAD retraced Fib No. 78.6% at 0.9963 and backed from there, extension 127.2% at 0.9561 which 161.8% extension of 0.9832 to 1.0274 in bigger range. Strategy: USDCAD sell at 0.9810 target 0.9784, 0.9667 stop loss 0.9875 New High: 0.9828, 0.9855, 0.9841 New Low: 0.9775, 0.9802, 0.9788
Pivot: R3-0.9868, R2-0.9848, R1-0.9835, PP-0.9815, S1-0.9795, S2-0.9782, S3-0.9762.
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