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USD/CAD Classic Technical Report 07.03.2012

USD/CAD Classic Technical Report 07.03.2012

2012-07-03 02:22:00
Ilya Spivak, Head Strategist, APAC
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Prices are consolidating after taking out support in the 1.0195-98 area, with sellers now challenging 1.0158. A break below this boundary exposes the 50% Fibonacci retracement at 1.0122. Alternatively, a reversal back through resistance initially exposes 1.0231.

USDCAD_Classic_Technical_Report_07.03.2012_body_Picture_5.png, USD/CAD Classic Technical Report 07.03.2012

4hr 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

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