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USD/CAD Technical Analysis 04.29.2013

Ilya Spivak

USD/CAD Technical Analysis- Prices are correcting lower from resistance at 1.0284, the 38.2% Fibonacci expansion, to retest below the top of a formerly broken falling channel (now at 1.0159). A confirmed break below that on a daily closing basis exposes the April 11 low at 1.0082. Alternatively, a move higher through resistance aims for the 50% Fib at 1.0346.


Forex_USDCAD_Technical_Analysis_04.29.2013_body_Picture_5.png, USD/CAD Technical Analysis 04.29.2013

Daily Chart - Created Using FXCM Marketscope 2.0




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


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