Forex: USD/CAD Technical Analysis – Loonie Hits 3-Year Low
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- Prices broke resistance at 1.0684 (23.6% Fib exp.), exposing 1.0760 (38.2% Fib exp.)
- Resistance is reinforced by a channel top at 1.0772; above that eyes 1.0822 (50% Fib)
- Turning back below 1.0684 exposes 1.0590 (rising channel bottom)
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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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