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Forex Analysis: USD/CAD Classic Technical Report 12.13.2012

Forex Analysis: USD/CAD Classic Technical Report 12.13.2012

2012-12-13 13:54:00
Ilya Spivak, Head Strategist, APAC
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Prices are testing below support at 0.9844, the 50%Fibonacci retracement. A confirmed break of this barrier on a daily closing basis exposes the 61.8% level at 0.9794. Near-term resistance is at 0.9894, the 38.2% Fib, with a break back above that aiming for the 23.6% retracement at 0.9956.

Forex_Analysis_USDCAD_Classic_Technical_Report_12.13.2012_body_Picture_1.png, Forex Analysis: USD/CAD Classic Technical Report 12.13.2012

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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