U.S. Markets close in 27 mins

Forex Analysis: USD/CAD Classic Technical Report 12.19.2012

Ilya Spivak

Prices are testing resistance at 0.9880, the 23.6% Fibonacci retracement. This barrier is reinforced by the top of a falling channel set from the mid-November top. A break above this barrier exposes the 38.2% Fib at 0.9913. Support is at 0.9825, with a reversal below that aiming for the channel bottom at 0.9796.


Forex_Analysis_USDCAD_Classic_Technical_Report_12.19.2012_body_Picture_1.png, Forex Analysis: USD/CAD Classic Technical Report 12.19.2012

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.