USD/CAD Technical Analysis – Prices are consolidating below resistance at 1.0436, the 23.6% Fibonacci expansion, having found support above the 1.03 figure. A break higher initially targets the 38.2% level at 1.0505. Near-term support is at 1.0325, the July 11 low, with a reversal beneath that eyeing a rising a trend line at 1.0257.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
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.