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Forex: USD/CAD Technical Analysis – Trend Line Capping Rally

Forex: USD/CAD Technical Analysis – Trend Line Capping Rally

2013-10-28 07:10:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices are testing resistance at 1.0452 (76.4% Fib, trend line from June 2013)
  • A break higher targets 1.0508 (100% Fib expansion)
  • Support at 1.0417 (61.8% Fib); break below that targets 1.0389 (50% Fib)

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

dailyclassics_usd-cad_body_Picture_7.png, Forex: USD/CAD Technical Analysis – Trend Line Capping Rally

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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