USD/CAD Technical Analysis- Prices are correcting lower from resistance at 1.0284, the 38.2% Fibonacci expansion, to retest below the top of a formerly broken falling channel (now at 1.0159). A confirmed break below that on a daily closing basis exposes the April 11 low at 1.0082. Alternatively, a move higher through resistance aims for the 50% Fib at 1.0346.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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