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EURUSD Still Owed a Breakout Post-ECB, S&P 500’s Hopes with PMIs a Long-Shot
2021-07-23 02:00:00
US Dollar Outlook: USD/JPY Mired by Yields, Flash PMIs Due
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USD/JPY Rate Tracks Rebound in US Yields Ahead of Fed Rate Decision
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Forex Analysis: USD/CAD Classic Technical Report 12.21.2012

Forex Analysis: USD/CAD Classic Technical Report 12.21.2012

Ilya Spivak, Head Strategist, APAC

Prices are reversing higher after completing a bullish Piercing Line candlestick pattern. Buyers are testing above resistance at 0.9886, the 14.6% Fibonacci expansion, exposing the next upside barrier in the 0.9919-24 area. A break beyond that targets the 38.2% level at 0.9986. Rising channel top resistance-turned-support is at 0.9866.

Forex_Analysis_USDCAD_Classic_Technical_Report_12.21.2012_body_Picture_1.png, Forex Analysis: USD/CAD Classic Technical Report 12.21.2012

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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