Tanalys

USD/CAD Technical Analysis 04.09.2013

USD/CAD Technical Analysis– Prices are testing resistance at 1.0174, the 23.6% Fibonacci retracement. A break above that eyes falling channel resistance at 1.0228. Channel support is at 1.0114, with a drop beneath that targeting the 38.2% Fib at 1.0070.

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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