USD/CAD Technical Analysis 05.23.2013
USD/CAD Technical Analysis– Prices advanced as expected after putting in a bullish Morning Star candlestick pattern above support at a rising trend line set from mid-September 2012. The pair has cleared resistance at 1.0338, the 61.8% Fibonacci expansion, exposing the 76.4% level at 1.0415. The 1.0338 mark has been recast as near-term support, with a turn back beneath that eyeing the 50% Fib at 1.0276.
Daily Chart - Created Using FXCM Marketscope 2.0
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