Forex: USD/CAD Technical Analysis – Trend Line Sparks Bounce
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- Prices are bouncing from support at 1.0282 (23.6% Fib, trend line from Sep’12)
- Initial resistance is at 1.0345 (38.2% Fib); a break higher targets 1.0395 (50% Fib)
- A reversal beneath support eyes the September 19 low at 1.0181
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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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