Forex Analysis: USD/CAD Classic Technical Report 01.11.2013

Prices are hovering below resistance at 0.9879, the 23.6% Fibonacci retracement. A break above that targets the 38.2% level at 0.9913. Near-term support is at 0.9824, the December 13 2012 low. A drop below that exposes a falling channel bottom 0.9787.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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