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Forex: USD/CAD Technical Analysis – Loonie Weakest in 2 Years

Forex: USD/CAD Technical Analysis – Loonie Weakest in 2 Years

Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices broke resistance in the 1.0570-71 area (double top, 61.8% Fib exp.)
  • A close above 1.0609 (76.4% Fib exp.) exposes 1.0669 (100% Fibexp.)
  • A turn back below 1.0570 aims for 1.0541 (50 % Fib expansion)

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

dailyclassics_usd-cad_body_Picture_12.png, Forex: USD/CAD Technical Analysis – Loonie Weakest in 2 Years

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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