USDCAD Classic Technical Report 09.20.2012
Prices are testing above resistance at 0.9751, the 14.6% Fibonacci retracement, to challenge the top of a falling channel set from late July (0.9797). Resistance is reinforced by the 23.6% Fib at 0.9824. A break above the latter boundary targets the 38.2% barrier at 0.9943. Near-term support is at 0.9632.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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