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Forex: USD/CAD Technical Analysis – 1.05 Figure Capping Rally

Forex: USD/CAD Technical Analysis – 1.05 Figure Capping Rally

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are eyeing resistance at 1.0517 (trend line from mid-June)
  • Breaking higher eyes 1.0570 (double top) but negative RSI divergence warns of weakness
  • A turn below 1.0445 (61.8 Fib ret.) initially targets 1.0395 (50% Fib ret.)

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

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