USD/CAD fell in the late hours of the session on Wednesday as the Federal Reserve has announced that interest rates would remain ultra-low until the end of 2014. The markets sold off the dollar in general, and the Canadian dollar gained against it as a result.

The triangle on our chart has been pierced, but the end of the supportive area is roughly parity, and as we didn't close below that mark - we aren't quite ready to sell yet. A move below the lows form the Wednesday session would be enough though. The triangle implies a move down to 0.95 before it is all said and done. We are not buying at this moment now.

USD/CAD

USD/CAD Forecast January 26, 2012, Technical Analysis

USD/CAD Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.9828
0.9919
0.9966
1.0057
1.0104
1.0195
1.0242

 Fibonacci
0.9919
0.9972
1.0004
1.0057
1.0110
1.0142
1.0195

 Camarilla
0.9975
0.9987
1.0000
1.0057
1.0025
1.0038
1.0050

 Woodie's
-
0.9908
0.9944
1.0046
1.0082
1.0184
-

 DeMark's
-
-
1.0080
1.0045
0.9942
-
-