USD/CAD Technical Analysis 03.20.2013

DailyFX

USD/CAD Technical Analysis- Prices are bouncing from support at 1.0185, the 38.2% Fibonacci retracement, to challenge resistance at 1.0245 marked by the 23.6% level. A break above that aims for the 14.6% Fib at 1.0281 and the March 1 swing high at 1.0341. Alternatively, a breach of support aims for a rising trend line at 1.0158 and the 50% retracement at 1.0137.

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Forex_USDCAD_Technical_Analysis_03.20.2013_body_Picture_5.png, USD/CAD Technical Analysis 03.20.2013

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

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