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USDCAD Classic Technical Report 08.31.2012

USDCAD Classic Technical Report 08.31.2012

Ilya Spivak, Head Strategist, APAC

Prices are consolidating between 0.9854, the March 1 close, and the 14.6% Fibonacci retracement at 0.9929. A push through support targets the April 27 close at 0.9801. Alternatively, a break above resistance exposes the 23.6% Fib at 0.9983 and the parity figure.

USDCAD_Classic_Technical_Report_08.31.2012_body_Picture_5.png, USDCAD Classic Technical Report 08.31.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

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