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Forex: USD/CAD Technical Analysis – Key Support Remains at 1.04

Forex: USD/CAD Technical Analysis – Key Support Remains at 1.04

2013-11-18 09:19:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices are consolidating above horizontal resistance-turned-support at 1.0406
  • Resistance is at 1.0498 (falling trend line); above that targets 1.0529 (channel top)
  • Breaking below 1.0406 initially exposes 1.0343 (channel bottom)

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

dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Key Support Remains at 1.04

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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