Forex Trading: USD/CAD Tests But Can’t Break Key Level

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Forex Trading: USD/CAD Tests But Can’t Break Key Level

By Greg Michalowski on January 8, 2009 | More Posts By Greg Michalowski | Forex News By FXDD

The USD/CAD, since dropping below the 38.2% Fibonacci level on 1/5, tried but has been unable to crack this key level again. This level, which now acts as a big resistance for the pair, was tested briefly on 1/6 and several times this session as the 100H MA came into the picture reinforcing this resistance.

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