USDCAD Classic Technical Report 08.23.2012
Prices are testing resistance at the underside of a falling channel set from early June (0.9908) after putting in a bullish Piercing Line candlestick pattern above support at 0.9854, the March 1 bottom. A break higher initially exposes the parity level. Alternatively, a push through support exposes the April 27 close at 0.9801.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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