USD/CAD Technical Analysis – Prices are pulling back to retest resistance-turned-support at 1.0356, the 23.6% Fibonacci expansion, with a break back below that eyeing a rising trend line connecting major swing lows since early May (now at 1.0282). Near-term resistance is at 1.0425, the 38.2% level.
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
- Basic Materials Industry
- Technical Analysis