USDCAD Classic Technical Report 07.16.2012
Prices are testing support at 1.0119, with a break lower exposing the bottom of a falling channel set from early June now at 1.0073. Near-term resistance lines up at 1.0161. A break below this boundary initially targets 1.0235, followed by the channel top now at 1.0279.
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
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.