U.S. Markets closed

USD/CAD Technical Analysis 05.08.2013

Ilya Spivak

USD/CAD Technical Analysis– Prices are testing support at 1.0039, the 38.2% Fibonacci expansion. A break below that aims for the 50% level at 1.0010. Near-term resistance is at 1.0074, the 23.6% Fib, with a reversal above that targeting the May 3 high at 1.0131.

Forex_USDCAD_Technical_Analysis_05.08.2013_body_Picture_5.png, USD/CAD Technical Analysis 05.08.2013

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.