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USDCAD Classic Technical Report 07.27.2012

USDCAD Classic Technical Report 07.27.2012

2012-07-27 10:48:00
Ilya Spivak, Head Strategist, APAC
Share:

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.

USDCAD_Classic_Technical_Report_07.27.2012_body_Picture_5.png, USDCAD Classic Technical Report 07.27.2012

Daily 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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