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USD/CAD Technical Analysis: Upward Push Stalls Sub-1.04

Ilya Spivak

USD/CAD Technical Analysis – Prices are pulling back to retest resistance-turned-support at 1.0356, the 23.6% Fibonacci expansion, with a break back below that eyeing a rising trend line connecting major swing lows since early May (now at 1.0282). Near-term resistance is at 1.0425, the 38.2% level.

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dailyclassics_usd-cad_body_Picture_7.png, USD/CAD Technical Analysis: Upward Push Stalls Sub-1.04

Daily Chart - Created Using FXCM Marketscope 2.0

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

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