Forex: USD/CAD Technical Analysis – Trying to Build Above 1.05

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Talking Points

  • Prices are testing resistance at 1.0541 (50% Fib exp expansion)
  • A break higher targets the 1.0570-71 area (double top, 61.8% Fib)
  • Support is at 1.0511 (38.2% Fib); below that eyes 1.0490 (trend line)

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dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Trying to Build Above 1.05

Daily Chart - Created Using FXCM Marketscope 2.0

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

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