USD/CAD Technical Analysis– Prices are testing resistance at 1.0436, the 23.6% Fibonacci expansion, having found support above the 1.03 figure. A break higher initially targets the 38.2% level at 1.0505. Near-term support is at 1.0325, the July 11 low, with a reversal beneath that eyeing a rising a trend line at 1.0252.
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Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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