USD/CAD Technical Analysis: US Dollar Attempting a Recovery
USD/CAD Technical Analysis – Prices are retesting support-turned-resistance in the 1.0293-1.0305 area, marked by a rising trend line set from May and the 38.2% Fibonacci expansion. A break above that aims for the 23.6% level at 1.0359. Near-term support is at 1.0263, the 50% Fib.
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.