USD/CAD Technical Analysis- Prices launched higher after showing a bullish Piercing Line candlestick pattern, taking out the 23.6% Fibonacci expansion at 1.0207 to expose the 38.2% level at 1.0284. A further break above that aims for the 50% Fib at 1.0346. The 1.0207 mark has been recast as near-term support.

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

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