USD/CAD Forecast July 3, 2013, Technical Analysis

The USD/CAD pair had a positive session on Tuesday again, breaking above the 1.0550 handle that we had suggested would be resistive. However, we could not stay above that area, and as a result the market looks like it’s ready to pull back slightly as we try to build more and more pressure to the upside. We are definitely bullish of this pair, and as a result think that a break higher, and above the highs for the session on Tuesday is another buy signal. On top of that, we believe that the 1.04 level should be supportive as well.



Written by FX Empire