USD CAD Cannot Shake Retracement Zone

Last week’s closing price reversal bottom in the USD CAD remains intactand the possibility of a rally still exists as long as this market canhold the retracement zone at 1.1039 to 1.0980.

Intra-Day Analysis

Last week’s closing price reversal bottom in the USD CAD remains intact and the possibility of a rally still exists as long as this market can hold the retracement zone at 1.1039 to 1.0980.

This zone represents the key retracement zone of the 1.0783 to 1.1290 range. 

A failure to hold this zone as support should trigger a retest of the Main Bottom at 1.0783.  If this market can gain support in this zone then look for the market to challenge the Main Top at 1.1290.  A breakout through this level will turn the Main Trend to up for the first time since April 13.

For Gann Angle support and resistance email me at jhyerczyk@yahoo.com