USDCAD: Prices Drifting to Support Near Parity
USDCAD is drifting lower toward support in the 1.0051-1.0101 area. Current positioning doesn’t offer an actionable trade setup and we will stand aside for now. Near-term resistance lines up at 1.0265, the upper boundary of a falling channel set from the June 1 swing high.
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, send a note with subject line "Distribution List" to email@example.com