Forex: USD/CAD Technical Analysis – Bears Struggle for Momentum
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- A bearish Evening Star candle pattern hints a turn lower is ahead
- Breaking support at 1.0422 (23.6% Fib ret.) would expose 1.0376 (38.2% Fib)
- Resistance is in the 1.0496-98 area (trend line from June low, Oct 30 high)
Confirm your chart-based trade setups with the Technical Analyzer.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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