USD/CAD Technical Analysis 03.08.2013
USD/CAD Technical Analysis- Prices are testing resistance at 1.0325, the 138.2% Fibonacci expansion. Negative RSI divergence warns of ebbing bullish momentum, hinting at weakness ahead. A break below initial support at 1.0258, the 114.6% level, exposes the 1.0207-19 area marked by the 100% Fib as well as formerly broken channel and trend line resistance levels now recast as support.
Daily Chart - Created Using FXCM Marketscope 2.0
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