USD/CAD Technical Analysis 04.12.2013

DailyFX

USD/CAD Technical Analysis- Prices are testing falling channel support at 1.0089, a barrier reinforced by the 38.2% Fibonacci retracementat 1.0070. A break below the latter level targets the 50% Fib at 0.9986. Near-term resistance is at 1.0174, the 23.6% Fib, with a reversal above that eyeing the channel top at 1.0204.

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Forex_USDCAD_Technical_Analysis_04.12.2013_body_Picture_5.png, USD/CAD Technical Analysis 04.12.2013

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

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