Charting FX: USD/CAD likely to spike higher

It has been a busy week in Canada, with USD/CAD bottoming out at C$1.2785, but remaining bullish all week. IG analyst Josh Mahony believes the outlook is towards the upside. 

In Europe, the dovish comments from the ECB explained the weakening euro, which came back to the support level of 22 September. The chart shows a lot of indecision at the moment, but there could be further downside in it. Josh Mahony also looks at USD/JPY.

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