USD/CAD Classic Technical Report 07.09.2012

DailyFX

Prices took out resistance at 1.0199, the 38.2% Fibonacci retracement, to reclaim a hold on the 1.02 figure. Buyers now aim to challenge 1.0231, with a break above that exposing the 23.6% Fib at 1.0293. The 1.02 boundary has been recast as support, with a break back below that exposing 1.0158.

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USDCAD_Classic_Technical_Report_07.09.2012_body_Picture_5.png, USD/CAD Classic Technical Report 07.09.2012

4hr Chart - Created Using FXCM Marketscope 2.0

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

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