Forex: USD/CAD Technical Analysis – Drifting Sideways Above 1.04
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- Prices are consolidating above horizontal resistance-turned-support at 1.0406
- Resistance is at 1.0496 (falling trend line); above that targets 1.0532 (channel top)
- Breaking below 1.0406 initially exposes 1.0348 (channel bottom)
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Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for DailyFX.com
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