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USDCAD Classic Technical Report 09.24.2012

USDCAD Classic Technical Report 09.24.2012

2012-09-24 09:12:00
Ilya Spivak, Head Strategist, APAC
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Prices are testing above resistance at the top of a falling channel set from late July, a barrier reinforced by the 23.6% Fibonacci retracement at 0.9824. A break above the latter boundary exposes the 38.2% Fib at 0.9943. Near-term support is at 0.9632, the September 14 low.

USDCAD_Classic_Technical_Report_09.24.2012_body_Picture_5.png, USDCAD Classic Technical Report 09.24.2012

Daily Chart - Created Using FXCM Marketscope 2.0

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

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