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Talking Points

  • Prices are consolidating above horizontal resistance-turned-support at 1.0406
  • Resistance is at 1.0495 (falling trend line); above that targets 1.0536 (channel top)
  • Breaking below 1.0406 initially exposes 1.0351 (channel bottom)

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

dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Range-Bound Above 1.04

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for DailyFX.com

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