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USD/CAD Technical Analysis: Trend Line Guides Selloff

USD/CAD Technical Analysis: Trend Line Guides Selloff

Ilya Spivak, Head Strategist, APAC

USD/CAD Technical Analysis – Prices are drifting to support at 1.0248, the 76.4% Fibonacci retracement, with a break lower targeting the June 14 low at 1.0136. Falling trend line resistance is at 1.0283, with a break above that eyeing the 61.8% level at 1.0317.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-cad_body_Picture_7.png, USD/CAD Technical Analysis: Trend Line Guides Selloff

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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