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Forex: USD/CAD Technical Analysis – Attempting to Expose 1.12

Forex: USD/CAD Technical Analysis – Attempting to Expose 1.12

2014-01-31 10:26:00
Ilya Spivak, Head Strategist, APAC

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Talking Points

  • Prices are testing above resistance at 1.1176 (23.6% Fib exp.)
  • A break higher on a daily closing basis initially exposes 1.1265 (38.2% Fib exp.)
  • Below support at 1.1120 (14.6% Fib exp.) eyes 1.1031 (Jan 27 low)

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

dailyclassics_usd-cad_body_Picture_7.png, Forex: USD/CAD Technical Analysis – Attempting to Expose 1.12

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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USD/CAD
Bullish