USD/CAD Technical Analysis– Prices are testing resistance at 1.0530, the 50% Fibonacciexpansion, with a break higher exposing the 61.8% level at 1.0623. Near-term support is at 1.0437, the 38.2% Fib. A reversal back beneath that targets the 23.6% expansion at 1.0322.
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
- Basic Materials Industry