Forex Analysis: USD/CAD Classic Technical Report 12.28.2012

Prices edged above resistance at 0.9940, the 50% Fibonacci retracement. The bulls now aim to challenge the 61.8% level at 0.9967. The 0.9940 mark has been recast as near-term support, with a reversal back below that aiming for the 38.2% Fib at 0.9913.

Daily Chart - Created Using FXCM Marketscope 2.0

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

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