Dow (US30) holds onto gains
The Dow (US30) inches higher after moving away from the recent double bottom. The index is attempting to head towards 43500, but the psychological level of 43000 is proving to be a difficult hurdle to overcome. Zooming into the hourly chart, a bearish RSI divergence suggests a deceleration in the momentum, but only a fall below 42500 would confirm weakness and could create a triple bottom at 42200.
USDJPY meets major resistance
The Yen pair hit some resistance after hints of weakness in the dollar across the board. The recent upturn in momentum has come to a halt in the mid-158.00 area. From the short-term perspective, the trajectory remains upward even though the immediate price action could be choppy. 158.00 is the level to clear before the uptrend can resume. 156.20 at the base of the latest bounce is a firm support to stop a complete reversal back down to 153.80.
USDCAD tests support
The Canadian dollar held firm as the currency also cashed in on the greenback losing some ground. The latest rebound has met renewed selling pressure at 1.4300, and its breach might prompt the bears to look towards a full rally. 1.4270 is the immediate support, and its breach could drop prices to 1.4150. Any chance of a turnaround in fortunes would first need a confirmed break above 1.4380 to make way for another move at the recent peak of 1.4450.
