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  • The US Dollar is now trading lower again. After hitting an intraday low around 90.15, the $DXY rebounded to 90.25 but has turned toward again, falling back below 90.20. $USD https://t.co/xyglMBmakL
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  • Forex Update: As of 17:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.49% 🇬🇧GBP: 0.40% 🇦🇺AUD: 0.35% 🇪🇺EUR: 0.10% 🇯🇵JPY: 0.07% 🇨🇭CHF: 0.06% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/or5TUZZUWN
  • The DAX is breaking lower out of a short-term topping sequence, the pattern discussed on Thursday as having the potential to at least induce a pullback within the context of a larger uptrend. Get your #DAX market update from @PaulRobinsonFX here:https://t.co/nFPT9a7KGi https://t.co/AJFUWoj2uQ
USDCAD Classic Technical Report 09.05.2012

USDCAD Classic Technical Report 09.05.2012

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_09.05.2012_body_Picture_5.png, USDCAD Classic Technical Report 09.05.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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