USD/CAD Technical Analysis: 3-Month Support at Risk Again

| 26 juli, 2013 | 0 kommentarer

USD/CAD Technical Analysis – Prices are testing support at a rising trend line set from early May (now at 1.0282), a barrier reinforced by the 76.4% Fibonacci retracement at 1.0248. A break below the latter level exposes the June 14 low at 1.0136. Trend line resistance is now at 1.0291, followed by the 61.8% Fib at 1.0317.

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dailyclassics_usd-cad_body_Picture_12.png, USD/CAD Technical Analysis: 3-Month Support at Risk Again

Daily Chart – Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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