21st Nov - USD/CAD Pushing Against Next Resistance
21 November 2013
WEEKLY CHART:
The 76.4% retracement area was
breached earlier, and the market
has since been consolidating
around this.
A fresh upleg (see below) should
see a test of/challenge to the long
term 38.2% retracement at
1.0800, once the 1.0657 Oct-11
high is cleared.
DAILY CHART:
After finding support from a 38.2%
pullback area the recovery has
put pressure on the falling
resistance line, just beneath
1.0500. A push through this would
give the bulls a boost and invite
higher targets beyond the 1.0608
Jul high..
The 38.2% pullback and main
rising support line remain key
supports.
Next story:
21st November - Gold looks vulnerable 
Previous story:
21st Nov - Cocoa Gains See New 2013 High