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Forex: USD/CAD Technical Analysis – All Eyes on July Top

Forex: USD/CAD Technical Analysis – All Eyes on July Top

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • July closing high at 1.0570 in focus as a possible Double Top (pending confirmation)
  • Near-term support at 1.0522 (76.4% Fib); a break below that targets 1.0469 (61.8% Fib)
  • Daily close above 1.0570 sees the next hurdle at 1.0608, the July 5 swing high

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

dailyclassics_usd-cad_body_Picture_7.png, Forex: USD/CAD Technical Analysis – All Eyes on July Top

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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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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