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USD/CAD Technical Analysis: US Dollar Attempting a Recovery

USD/CAD Technical Analysis: US Dollar Attempting a Recovery

Ilya Spivak, Head Strategist, APAC

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.

dailyclassics_usd-cad_body_Picture_7.png, USD/CAD Technical Analysis: US Dollar Attempting a Recovery

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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