Forex Analysis: USD/CAD Classic Technical Report 01.07.2013
Prices are hovering below resistance at 0.9879, the 23.6% Fibonacci retracement. A break above that targets the 38.2% level at 0.9913. Near-term support is at 0.9824, the December 13 2012 low. A drop below that exposes a falling channel bottom 0.9796.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. 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.