USD/CAD Technical Analysis: Selloff Begins as Expected

| 11 juli, 2013 | 0 kommentarer

USD/CAD Technical Analysis– Prices turned lower as expected after completing a bearish Evening Star candlestick pattern. Sellers are now testing support is at 1.0381, the 38.2% Fibonacciretracement, with a break below that targeting the 50% level at 1.0311. Near-term resistance is at 1.0468, the 23.6% Fib.

dailyclassics_usd-cad_body_Picture_7.png, USD/CAD Technical Analysis: Selloff Begins as Expected

Daily Chart – Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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