USD/CAD Technical Analysis: Early Topping Signs Emerge


USD/CAD Technical Analysis– Prices put in a Spinning Top candlestick below resistance at 1.0530, the 50% Fibonacciexpansion, pointing to indecision and hinting a turn lower may be ahead. Near-term support is at 1.0437, the 38.2% level, with a break beneath that targeting the 23.6% Fib at 1.0322. Alternatively, a break above resistance aims for the 61.8% expansion at 1.0623.

View photo

dailyclassics_usd-cad_body_Picture_7.png, USD/CAD Technical Analysis: Early Topping Signs Emerge

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

View Comments (0)