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Forex Analysis: USD/CAD Classic Technical Report 12.27.2012

Ilya Spivak

Prices are consolidating between 0.9913 and 0.9940, the 38.2% and 50% Fibonacci retracement. A drop through support opens the door for a retest of falling channel resistance-turned-support at 0.9847. Alternatively, a break of resistance targets the 61.8% level at 0.9967.

Forex_Analysis_USDCAD_Classic_Technical_Report_12.24.2012_body_Picture_1.png, Forex Analysis: USD/CAD Classic Technical Report 12.27.2012

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

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