USD/CAD Technical Analysis – Prices put in a bullish Harami candlestick pattern above support at a rising trend line set from early May, hinting a move higher is ahead. Initial resistance is at 1.0356, the 23.6% Fibonacci expansion, with a break higher targeting the 38.2% level at 1.0425. Trend lien support is now at 1.0284.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
- Finance Trading
- Utility Industry
- Technical Analysis