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Forex: USD/CAD Technical Analysis – Uptrend Set to Resume?

Forex: USD/CAD Technical Analysis – Uptrend Set to Resume?

2013-12-13 10:00:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • Prices bounced from support in the 1.0559-82 area (double top, 23.6% Fib ret., trend line)
  • Resistance is at 1.0684 (23.6% Fib exp.); breaking above that eyes 1.0760 (38.2% Fib exp.)
  • Turning back below 1.0559 targets 1.0506 (38.2% Fib retracement)

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

dailyclassics_usd-cad_body_Picture_11.png, Forex: USD/CAD Technical Analysis – Uptrend Set to Resume?

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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