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USDCAD Classic Technical Report 09.19.2012

USDCAD Classic Technical Report 09.19.2012

Ilya Spivak, Head Strategist, APAC

Prices are testing resistance at 0.9751, the 14.6% Fibonacci retracement. A break higher exposes the top of a falling channel set from late July (0.9807) and the 23.6% Fib at 0.9824. Alternatively, a push below support targets the channel bottom at 0.9595.

USDCAD_Classic_Technical_Report_09.19.2012_body_Picture_5.png, USDCAD Classic Technical Report 09.19.2012

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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