U.S. Markets open in 2 hrs 53 mins

Forex Analysis: USD/CAD Classic Technical Report 01.16.2013

Ilya Spivak

Prices are testing above resistance at 0.9853, the 50%Fibonacci expansion. A confirmed break above that eyes upside targets at 0.9880 and 0.9914, the 38.2% and 23.6% Fibs respectively. Near-term support is at 0.9826, the 61.8% expansion. A reversal back below that targets the 76.4% level at 0.9792.


Forex_Analysis_USDCAD_Classic_Technical_Report_01.16.2013_body_Picture_1.png, Forex Analysis: USD/CAD Classic Technical Report 01.16.2013

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.