USD/CAD Technical Analysis: Buyers Test Resistance Again

DailyFX

USD/CAD Technical Analysis– Prices are testing resistance at 1.0436, the 23.6% Fibonacci expansion, having found support above the 1.03 figure. A break higher initially targets the 38.2% level at 1.0505. Near-term support is at 1.0325, the July 11 low, with a reversal beneath that eyeing a rising a trend line at 1.0252.

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dailyclassics_usd-cad_body_Picture_7.png, USD/CAD Technical Analysis: Buyers Test Resistance Again

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

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