Filed Under:
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.

Confirm your chart-based trade setups with the Technical Analyzer.

dailyclassics_usd-cad_body_Picture_7.png, USD/CAD Technical Analysis: Trend Line Resistance BreaksDaily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed

original source
comments powered by Disqus
Trading Center