Forex: USD/CAD Technical Analysis – Testing Key Channel Bottom
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- Prices reversed from resistance in the 1.0706-26 area (Dec 4 high, 38.2% Fib exp.)
- Breaking below 1.0597 (channel bottom) exposes 1.0570 (former double top)
- Reversing above resistance aims for 1.0778 (50% Fib expansion)
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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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