Forex: USD/CAD Technical Analysis – Testing 13-Month Support

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Talking Points

  • Prices are testing below support at 1.0271 (38.2% Fib, trend line from Sep’12)
  • Break lower initially targets 1.0225 (50% Fib expansion)
  • Above resistance at 1.0328 (23.6% Fib ) eyes 1.0419 (Oct 10 swing high)

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dailyclassics_usd-cad_body_Picture_9.png, Forex: USD/CAD Technical Analysis – Testing 13-Month Support

Daily Chart - Created Using FXCM Marketscope 2.0

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

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