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Forex: USD/CAD Technical Analysis – Oscillating Below 1.05 Figure

Forex: USD/CAD Technical Analysis – Oscillating Below 1.05 Figure

2013-11-11 09:44:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices are consolidating above support at 1.0411 (23.6% Fib expansion)
  • A break lower exposes 1.0355 (38.2% Fib exp.)
  • Near-term resistance is at 1.0506, a trend line set from mid-June

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

dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Oscillating Below 1.05 Figure

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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