U.S. Markets open in 3 hrs 3 mins

Forex Analysis: USD/CAD Classic Technical Report 01.03.2013

Ilya Spivak

Prices are testing support at 0.9844, the 50% Fibonacci retracement. A break lower targets the 61.8% Fib at 0.9794. Near-term support is at 0.9894, the 38.2% retracement, with a push above that aiming for the December 28 swing high at 0.9969.

Forex_Analysis_USDCAD_Classic_Technical_Report_01.03.2013_body_Picture_1.png, Forex Analysis: USD/CAD Classic Technical Report 01.03.2013

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.