Forex: USD/CAD Technical Analysis – Upward Breakout Attempted
USD/CAD Technical Analysis – Prices put in a bullish Three Inside Up candlestick pattern above support at a rising trend line set from early May, hinting a move higher is ahead. Initial resistance is at 1.0356, the 23.6% Fibonacci expansion, with a break higher targeting the 38.2% level at 1.0425. Trend line support is now at 1.0304.
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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