USD/CAD Technical Analysis 02.13.2013
USD/CAD Technical Analysis- Prices rebounded as expected after putting in a bullish Morning Star candlestick pattern. Buyers are now testing above resistance at 1.0041, the 38.2% Fibonacci expansion, with a break higher exposing the 50%level at 1.0074. Near-term support is at the parity figure, a psychological barrier reinforced by the 23.6% Fib.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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