Forex: Canada's Loonie breaks out

The Loonie broke through resistance at $1.01 against the greenback, indicating an advance to the 2011 high of $1.06. This confirms the earlier signal when 63-day Twiggs Momentum recovered above zero.

Canadian Dollar/USD

* Target calculation: 1.01 + ( 1.01 – 0.96 ) = 1.06