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Forex: USD/CAD Technical Analysis – 4-Month Trend Line Tested

Forex: USD/CAD Technical Analysis – 4-Month Trend Line Tested

2013-10-30 04:43:00
Ilya Spivak, Sr. Currency Strategist
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Talking Points

  • Prices are testing support-turned-resistance at a rising trend line set from June (1.0479)
  • A break higher initially targets 1.0508 (100% Fib expansion)
  • Reversing below 1.0452 (76.4%) exposes 1.0417 (61.8% Fib)

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

dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – 4-Month Trend Line Tested

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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