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USD/CAD Hits New Long-Term Low

May 02, 2011 11:56 AM ET
James Chen profile picture
James Chen's Blog
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USD/CAD (a daily chart of which is shown) as of Monday (5/02/2011) has established yet a new long-term 3+ year low at 0.9445 before rebounding back up to re-test prior support in the 0.9500 price region. This occurs within the context of strong bearish environment within a longstanding overall downtrend. For more USD/CAD forex technical analysis, please click here.

James Chen, CTA, CMT

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