Forex: USD/CAD Technical Analysis – 1.04 Level Under Fire

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Talking Points

  • Prices are finally building on a bullish Three Inside Up candle pattern
  • A break above 1.0395 (50% Fib) would expose 1.0420 (trend line), 1.0445 (61.8% Fib)
  • 1.0345 (38.2% Fib) is now support; below that targets 1.0282 (23.6% Fib)

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dailyclassics_usd-cad_body_Picture_7.png, Forex: USD/CAD Technical Analysis – 1.04 Level Under Fire

Daily Chart - Created Using FXCM Marketscope 2.0

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

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