USD/CAD Technical Analysis– Prices pulled back as expected, completing a bearish Evening Star candlestick pattern. Initial support is at 1.0427, the 23.6% Fibonacciretracement, with a break below that exposing the 38.2% level at 1.0348. Near-term resistance is at 1.0555, the June 24 high.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
- Finance Trading
- Basic Materials Industry
- Technical Analysis