USD/CAD Technical Analysis– Prices are testing support at 1.0140, a barrier marked by the 38.2% Fibonacci retracement and reinforced by a falling channel bottom (1.0129). A break downward on a daily closing basis exposes the 50% level at 1.0078. Near-term resistance is at 1.0217, the 23.6% retracement.
Daily Chart – Created Using FXCM Marketscope 2.0
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— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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