Forex Analysis: USD/CAD Classic Technical Report 01.23.2013

Prices are testing resistance at the top of a falling channel (0.9932) set from the November 14 swing top. A break above that aims for the December 28 top at 0.9969. Near-term support is at 0.9888. A break beneath that eyes the December 13 bottom at 0.9824.

Daily Chart - Created Using FXCM Marketscope 2.0

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

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