Technicals: Will a Breakthrough Come with GDP?

  • Resistance: 1.0790
  • Support: 1.0650
  • Almost a month old, the trend channel continues to contain price action in its tight parameters. In the last couple of days, volatility has decreased and the range has narrowed, reducing it to less than 100 pips.
  • In the next couple of days, watch for a range break in the wake of the FOMC?s meeting and/or the release of Friday?s Canadian GDP report.

See Daily Technicals for more details: