Forex: USD/CAD Technical Analysis – Stalling Near 1.03 Figure

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Talking Points

  • A bullish Three Inside Up candle pattern has marked the start of a cautious recovery
  • Near-term resistance is at 1.0329 (38.2% Fib); a break of that exposes 1.0374 (50% Fib)
  • Reversing below support at 1.0273 (23.6% Fib) targets 1.0237 (trend line from Sep 2012)

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dailyclassics_usd-cad_body_Picture_7.png, Forex: USD/CAD Technical Analysis – Stalling Near 1.03 Figure

Daily Chart - Created Using FXCM Marketscope 2.0

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

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