News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
USDCAD Classic Technical Report 08.10.2012

USDCAD Classic Technical Report 08.10.2012

Ilya Spivak, Head Strategist, APAC

Prices broke through support at the bottom of a falling channel set from the June 1 high, pointing to bearish acceleration. Initial support lines up at 0.9907, the October 27 2011 closing low, with a break below that exposing the March 1 bottom at 0.9854. Channel bottom support-turned-resistance is now at 0.9956, with a push back above that targeting the parity threshold.

USDCAD_Classic_Technical_Report_08.10.2012_body_Picture_5.png, USDCAD Classic Technical Report 08.10.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail 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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.