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USD/CAD Technical Analysis 05.02.2013

USD/CAD Technical Analysis 05.02.2013

2013-05-02 08:50:00
Ilya Spivak, Head Strategist, APAC
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USD/CAD Technical Analysis- Prices broke support at in the 1.0095-99 area, marked by the 76.4% Fibonacci expansion and the January 25 swing high. Sellers now target the 100% level at 1.0034, with a break below that eyeing a rising trend line at 0.9989. Alternatively, a reversal back above 1.0099 aims for the 61.8% Fibat 1.0133.

Forex_USDCAD_Technical_Analysis_05.02.2013_body_Picture_5.png, USD/CAD Technical Analysis 05.02.2013

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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