USDCAD Classic Technical Report 07.26.2012
Prices are pulling back from resistance at 1.0231, a minor horizontal level reinforced by the top of a falling channel set from the June 1 high. Near-term support is in the familiar 1.0051-101 area. Alternatively, a reversal through resistance initially exposes 1.0318.
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.