U.S. Markets closed

Forex: USD/CAD Technical Analysis – Aiming for 1.04 Anew

Ilya Spivak

To receive Ilya's analysis directly via email, please SIGN UP HERE

Talking Points

  • Prices are testing resistance at 1.0395 (50% Fibonacci retracement)
  • Break higher targets the 1.0445-55 area (61.8% Fib, trend line from June)
  • Below support at 1.0345 (38.2% Fib) targets 1.0282 (23.6% Fib, trend line from Sep’12)

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-cad_body_Picture_7.png, Forex: USD/CAD Technical Analysis – Aiming for 1.04 Anew

Daily Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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.