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USDCAD Classic Technical Report 07.10.2012

USDCAD Classic Technical Report 07.10.2012

Ilya Spivak, Head Strategist, APAC

Prices are consolidating between support at 1.0186 and resistance at 1.0284. A break higher initially targets the next upside barrier at 1.0231. Alternatively, a reversal downward sees support at 1.0161.

USDCAD_Classic_Technical_Report_07.10.2012_body_Picture_5.png, USDCAD Classic Technical Report 07.10.2012

8hr 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, send a note with subject line "Distribution List" to ispivak@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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