Forex Analysis: USD/CAD Classic Technical Report 01.03.2013
Prices are testing support at 0.9844, the 50% Fibonacci retracement. A break lower targets the 61.8% Fib at 0.9794. Near-term support is at 0.9894, the 38.2% retracement, with a push above that aiming for the December 28 swing high at 0.9969.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.