USD/CAD Forecast July 15, 2013, Technical Analysis

The USD/CAD pair had a slightly positive session on Friday, but remains below the 1.04 handle. We had initially been very bullish of this pair, but have to admit that the reason falling of the pair has been a bit concerning. However, the 1.03 level below is significant support, so it’s possible that we continue to go higher eventually. If we can get above the highs from the session on Thursday, we would go ahead and start buying. However, if we managed to close a daily candle below the 1.03 level, it’s time to start selling and aiming for parity.



Written by FX Empire