USDCAD Classic Technical Report 08.17.2012
Prices are testing support at 0.9854, the March 1 bottom, with a break below that exposing the April 27 close at 0.9801. Near-term resistance is at 0.9907, the October 27 2011 close. A break above this boundary exposes the underside of a falling channel set from early June, now at 0.9927.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. 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 firstname.lastname@example.org
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.