USD/CAD Technical Analysis: Prices Revisit May Highs
USD/CAD Technical Analysis– Prices launched sharply higher from support at the bottom of a falling channel set from late May, with prices now testing through the 61.8% Fibonacciexpansion at 1.0388. A break above that exposes the 76.4% level at 1.0447. Near-term support is at 1.0340, the 50% Fib.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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