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Forex: USD/CAD Technical Analysis – Aiming for 1.04 Anew

Forex: USD/CAD Technical Analysis – Aiming for 1.04 Anew

2013-10-24 12:04:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices are testing resistance at 1.0395 (50% Fibonacci retracement)
  • Break higher targets the 1.0445-55 area (61.8% Fib, trend line from June)
  • Below support at 1.0345 (38.2% Fib) targets 1.0282 (23.6% Fib, trend line from Sep’12)

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

dailyclassics_usd-cad_body_Picture_7.png, Forex: USD/CAD Technical Analysis – Aiming for 1.04 Anew

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

Contact and follow Ilya on Twitter: @IlyaSpivak

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