Forex Analysis: USD/CAD Classic Technical Report 01.29.2013
Prices put in a Shooting Star candlestick below resistance at 1.0077, the 61.8% Fibonacci retracement, hinting a move lower is ahead. Initial support is at 1.0026, the 50% Fib, with a break below that exposing the parity figure and the 38.2% mark at 0.9976. Alternatively, a reversal above resistance aims eyes the 76.4% resistance at 1.0138.
Daily Chart - Created Using FXCM Marketscope 2.0
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