Forex: USD/CAD Technical Analysis – Topping Hinted Below 1.06
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- Shooting Star candlestick below resistance at 1.0542 (50% Fib expansion) hints at topping
- Break below initial support at 1.0472 (38.2% Fib) exposes the 23.6% Fib at 1.0385 next
- Daily close above resistance opens the door for a challenge of 1.0613 (61.8% Fib)
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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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