USD/CAD Technical Analysis 02.08.2013
USD/CAD Technical Analysis- Prices pulled back as expected after putting in a Shooting Star candlestick. The formation of a bullish Morning Star pattern now suggests upside resumption maybe ready to commence. Initial resistance is at the parity figure, a barrier reinforced by the 23.6% Fibonacci expansion. A break above that targets the 38.2% level at 1.0040. Initial support is at 0.9932, the February 7 low.
Daily Chart - Created Using FXCM Marketscope 2.0
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