USD/CAD Technical Analysis– Prices are testing below falling channel support, eyeing the 38.2% Fibonacci retracementat 1.0070. A break below that targets the 50% level at 0.9986. Near-term resistance is at 1.0174, the 23.6% Fib, with a reversal above that eyeing the channel top at 1.0218.
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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