Forex: USD/CAD Technical Analysis – Trend Line Marks Support
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- Prices are testing support in the 1.0559-82 area (double top, 23.6% Fib ret., trend line)
- A break downward initially targets 1.0506 (38.2% Fib retracement)
- Resistance is at 1.0684 (23.6% Fib exp.); above that eyes 1.0760 (38.2% Fib exp.)
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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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