USD/CAD Technical Analysis – Prices are drifting lower toward the July 11 low at 1.0325, with a break below that targeting a rising trend line set from mid-May, now at 1.0262. Near-term resistance is at 1.0436, the 23.6% Fibonacci expansion. A reversal above that targets the 38.2% level at 1.0505.
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 email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
- Finance Trading
- Technical Analysis