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USD/CAD Technical Analysis 05.03.2013

USD/CAD Technical Analysis 05.03.2013

Ilya Spivak, Head Strategist, APAC

USD/CAD Technical Analysis- Prices are testing support in the 1.0061-1.0101 area. A break below this boundary exposes a rising trend line at 0.9991. Resistance is at 1.0143, the 38.2% Fibonacci retracement, with a push above that aiming for the 50% level at 1.0172.

Forex_USDCAD_Technical_Analysis_05.03.2013_body_Picture_5.png, USD/CAD Technical Analysis 05.03.2013

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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