USD/CAD Technical Analysis 04.01.2013
USD/CAD Technical Analysis- Prices put in an Inverted Hammer candlestick above support at 1.0137, marked by the 50% Fibonacci retracement and reinforced by a falling channel bottom as well as a rising trend line, hinting a rebound is ahead. Near-term resistance is at 1.0185, the 38.2% Fib, with a push above that targeting the 23.6% Fib at 1.0245. Alternatively, a drop below 1.0137 aims for the 61.8% level at 1.0088.
Daily Chart - Created Using FXCM Marketscope 2.0
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