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Currencies CAD Chart of the Day for April 16th, 2013 – USD/CAD

USD/CAD Technical Analysis- Prices are testing falling channel support at 1.0089, a barrier reinforced by the 38.2% Fibonacci retracementat 1.0070. A break below the latter level targets the 50% Fib at 0.9986. Near-term resistance is at 1.0174, the 23.6% Fib, with a reversal above that eyeing the channel top at 1.0204.

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