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USD/CAD Technical Analysis 05.13.2013

Ilya Spivak

USD/CAD Technical Analysis– Prices advanced as expected after putting in a bullish Morning Star candlestick pattern above support at a rising trend line set from mid-September 2012. Near-term resistance is at 1.0137, the 23.6% Fibonacci expansion. A break higher initially exposes the 38.2% level at 1.0214. Trend line support is now at 1.0018.

Forex_USDCAD_Technical_Analysis_05.10.2013_body_Picture_5.png, USD/CAD Technical Analysis 05.13.2013

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

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