USDCAD—maybe found a base

The pair has possibly found a base in the 1.0260's from which to stage at least a small bounce. I went long at 1.0270. There's some bullish divergence on the hourly chart. USDCAD will have to close above 1.0299/1.0305 for anyone to believe this bounce can have any legs. We'll see.

Support is at 1.0260, 1.0242, 1.0225 and 1.0208. Resistance is at 1.0299, 1.0305, 1.0340/62 and 1.0444.

Here's the hourly chart:





















Copyright Dianne Fecteau, 2010. No part of this material may be reproduced in any form, or referred to in any other publication, without the express written permission of the author.

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