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USD/CAD Technical Analysis 03.19.2013

USD/CAD Technical Analysis 03.19.2013

Ilya Spivak, Head Strategist, APAC

USD/CAD Technical Analysis- Prices are bouncing from support at 1.0185, the 38.2% Fibonacci retracement, to challenge resistance at 1.0245 marked by the 23.6% level. A break above that aims for the 14.6% Fib at 1.0281 and the March 1 swing high at 1.0341. Alternatively, a breach of support aims for a rising trend line at 1.0158 and the 50% retracement at 1.0137.

Forex_USDCAD_Technical_Analysis_03.19.2013_body_Picture_5.png, USD/CAD Technical Analysis 03.19.2013

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

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