Forex: USD/CAD Technical Analysis – Bulls Clear Path Above 1.06

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Talking Points

  • Prices broke resistance in the 1.0570-71 area (double top, 61.8% Fib exp.)
  • Sellers now target 1.0609 (76.4% Fib); above that exposes 1.0669 (100% Fib)
  • A turn back below 1.0570 aims for 1.0541 (50 % Fib expansion)

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dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Bulls Clear Path Above 1.06

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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