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    USD/CAD: Fibonacci analysis on 23.02.2016

    A growth is likely to continue.

    On the 4-hour chart, the price is correcting from its February lows again. Presently, it is testing the level of 1.3735 (50.0% correction for the medium-term trend) which is the key one for the Bulls. A breakout of this level leads to a growth to 1.3810 (23.6% correction), near the crossover with the 23.6% arc and the 38.2% fan line, directed down. There, a rebound is possible, as the fan line is as additional resistance for the price.


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