USD/CAD Technical Analysis– Prices are oscillating below resistance in the 1.0001-08 area marked by the April 11 close and the 23.6% Fibonacci retracement. Support is at 1.0061, the January 28 close, with a break below that exposing a rising trend line at 0.9994. Alternatively, a move above resistance aims for the 38.2% retracement at 1.0143.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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