U.S. Markets closed

USD/CAD Technical Analysis: Prices Soar to 6-Month High

Ilya Spivak

USD/CAD Technical Analysis– Prices are testing resistance at 1.0530, the 50% Fibonacciexpansion, with a break higher exposing the 61.8% level at 1.0623. Near-term support is at 1.0437, the 38.2% Fib. A reversal back beneath that targets the 23.6% expansion at 1.0322.

dailyclassics_usd-cad_body_Picture_7.png, USD/CAD Technical Analysis: Prices Soar to 6-Month High

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.