USD/CAD Technical Analysis– Prices are testing support at 1.0039, the 38.2% Fibonacci expansion. A break below that aims for the 50% level at 1.0010. Near-term resistance is at 1.0074, the 23.6% Fib, with a reversal above that targeting the May 3 high at 1.0131.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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