Forex Marketz Daily Forex News – Fully Markets Update
USD/CAD (1.09055)
The Canadian Loonie is making another assault at the key technical level of 1.09. This comes after, looking at our daily chart, the formation of a bullish hammer candlestick. The market needs to see a daily close above this level. If this happens we can inch higher to 1.0979/1.0980 and the 1.10.
Looking at our 4 hour chart, we see hesitation from buyers. A possible bearish hammer is forming just above 1.09. A close on a downtick will confirm this. All eyes are squarely at the ceiling which is currently at the key 1.09 level.
