USDCAD Classic Technical Report 08.06.2012
Prices are testing critical psychological support at the parity figure, a level reinforced by the bottom of a falling channel carved out over the past two months. Early signs of positive RSI divergence hint a bounce may be ahead. Near-term resistance lines up at 1.0070, with a break above that exposing 1.0119.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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