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Forex Analysis: USD/CAD Classic Technical Report 12.24.2012

Ilya Spivak

Prices are reversing higher after completing a bullish Piercing Line candlestick pattern. Buyers broke resistance in the 0.9919-24 area, exposing the 38.2%Fibonacci expansionat 0.9986. Alternatively, a reversal back below 0.9919 targets the 14.6% level at 9886.

Forex_Analysis_USDCAD_Classic_Technical_Report_12.24.2012_body_Picture_1.png, Forex Analysis: USD/CAD Classic Technical Report 12.24.2012

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--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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