USD/CAD Technical Analysis: Trend Line Guides Selloff
USD/CAD Technical Analysis – Prices are drifting to support at 1.0248, the 76.4% Fibonacci retracement, with a break lower targeting the June 14 low at 1.0136. Falling trend line resistance is at 1.0283, with a break above that eyeing the 61.8% level at 1.0317.
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 ispivak@dailyfx.com. 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.
