USD/CAD Technical Analysis: US dollar vs the Canadian bounced at 1.29681 support.

Denis Joeli Fatiaki Independent Analyst

US dollar vs the Canadian failed to breakthrough 1.30383 in yesterdays session and plunge to the bottom of the channel towards the end of the Asian trading session. The US dollar bounced at 1.29681 during the European session and shot up to 1.30500 after the Fed announcement of rate increases but pulled back and ended the session at the bottom of the channel. We could be looking at another the shot to the upside if the US dollar holds above 1.29700. The projected resistance located at the following points. 1.29905, 1.30097, 1.302955, 1.30383

Author

Denis Joeli Fatiaki

Independent Analyst

Denis Joeli Fatiaki possesses over a decade of extensive experience as a multi-asset trader and Market Strategist.

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