USD/CAD Technical Analysis – Prices advanced as expected after putting in a bullish Three Inside Up candlestick pattern. The bulls are now testing above resistance at 1.0536, the 61.8% Fibonacci expansion, with a break higher confirmed on a daily closing basis exposing the 76.4% level at 1.0605. Near-term support is at 1.0481, the 50% Fib, followed by the 38.2% expansion at 1.0425.

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Daily Chart - Created Using FXCM Marketscope 2.0

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

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