USD/CAD Technical Analysis- Prices slipped below support at 1.0264, the 14.6% Fibonacci retracement, exposing the 23.6% level at 1.0217. Negative RSI divergence reinforces the case for a downside scenario. A break below 1.0217 exposes the 38.2% Fib at 1.0140. Alternatively, a daily close back above 1.0264 aims for the March 1 high at 1.0341.
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
To be added to Ilya's e-mail distribution list, please CLICK HERE
New to FX? Watch this Video. For live market updates, visit the Real Time News Feed
