Forex: USD/CAD Technical Analysis – Resistance Above 1.07 at Risk
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- Prices rose as expected after putting in a bullish Three Inside Up candlestick pattern
- Breaking resistance at 10706-26 (Dec 4 high, 38.2% Fib) exposes 1.0778 (50% Fib)
- Turning below 1.0626 (channel bottom) eyes 1.0570 (formerly broken double top)
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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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