USDCAD Classic Technical Report 07.27.2012
Prices are testing support in the 1.0046-51 area marked by a long-standing former range top and the 61.8% Fibonacci retracement. A break lower exposes falling channel support at 1.0010 and the 76.4% Fib at 0.9952. The channel top, now at 1.0217, marks the first layer of major resistance.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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