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Forex: USD/CAD Technical Analysis – Probing the 1.05 Figure

Forex: USD/CAD Technical Analysis – Probing the 1.05 Figure

2013-11-13 07:58:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices are eyeing resistance at 1.0511 (50% Fib exp., trend line from mid-June)
  • Breaking higher eyes 1.0538 (61.8% Fib) but negative RSI divergence warns of weakness
  • A turn below 1.0484 (38.2% Fib) initially targets 1.0451 (23.6% Fib)

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

dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Probing the 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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