USD/CAD Technical Analysis– Prices turned lower as expected after completing a bearish Evening Star candlestick pattern. Sellers are now testing support is at 1.0381, the 38.2% Fibonacciretracement, with a break below that targeting the 50% level at 1.0311. Near-term resistance is at 1.0468, the 23.6% Fib.
Daily Chart – Created Using FXCM Marketscope 2.0
— Written by Ilya Spivak, Currency Strategist for Dailyfx.com
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