USD/CAD Technical Analysis- Prices put in an Inverted Hammer candlestick above support at 1.0137, marked by the 50% Fibonacci retracement and the bottom of a falling channel, hinting a move higher may be ahead. Near-term resistance is at 1.0185, the 38.2% Fib, with a push above that targeting the underside of a previously broken rising trend line at 1.0216. Alternatively, a drop below support aims for the 61.8% level at 1.0088.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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