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Forex: USD/CAD Technical Analysis – Eyeing Double Top Above 1.05

Forex: USD/CAD Technical Analysis – Eyeing Double Top Above 1.05

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are testing resistance at 1.0541 (50% Fib expansion)
  • A break higher targets the 1.0570-71 area (double top, 61.8% Fib)
  • Support is at 1.0511 (38.2% Fib); below that eyes 1.0489 (trend line)

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

dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Eyeing Double Top Above 1.05

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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