APosner

USD/CAD at resistance - reversal ahead?

FX:USDCAD   U.S. Dollar/Canadian Dollar
In the last three sessions USD/CAD             has failed to break through resistance. There is horizontal resistance @ 1.2473 and the 61.8% Fibonacci retracement of the 3.18 high @ 1.2833 and the 5.14 low @ 1.1918 coming in at 1.2486. The Japanese candlestick patterns of the last three sessions also suggest a possible reversal with a spinning top and two shooting stars. Until we see confirmation however we are standing aside.
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