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USD/CAD Classical Technical Report 12.21

USD/CAD Classical Technical Report 12.21

2011-12-21 07:04:00
Joel Kruger, Technical Strategist
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Daily_Classical_USDCAD_body_cad2.png, USD/CAD Classical Technical Report 12.21

USD/CAD: Our constructive outlook remains intact with the market focused on a retest of the key October highs by 1.0660. From here, look for any interday pullbacks to be very well supported above 1.0000 on a daily close basis, in favor of an eventual break and fresh upside extension beyond 1.0660. Initial resistance comes in at 1.0525. Back above 1.0660 open a fresh upside extension towards 1.1000.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

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