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Forex Analysis: USD/CAD Classic Technical Report 01.23.2013

Forex Analysis: USD/CAD Classic Technical Report 01.23.2013

Ilya Spivak, Head Strategist, APAC

Prices are testing resistance at the top of a falling channel (0.9932) set from the November 14 swing top. A break above that aims for the December 28 top at 0.9969. Near-term support is at 0.9888. A break beneath that eyes the December 13 bottom at 0.9824.

Forex_Analysis_USDCAD_Classic_Technical_Report_01.23.2013_body_Picture_1.png, Forex Analysis: USD/CAD Classic Technical Report 01.23.2013

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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