USD/CAD Technical Analysis: Trend Line Resistance Breaks

| 31 juli, 2013 | 0 kommentarer

USD/CAD Technical Analysis – Prices broke resistance at a falling trend line set from the July 5 swing top, hinting a move higher is ahead. Near-term resistance is at 1.0363, the 23.6% Fibonacci expansion, with a break above that targeting the 38.2% level at 1.0432. Rising trend line support is at 1.0266, followed by swing lows at 1.0252 and 1.0136.

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dailyclassics_usd-cad_body_Picture_7.png, USD/CAD Technical Analysis: Trend Line Resistance Breaks

Daily Chart – Created Using FXCM Marketscope 2.0

Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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