USD/CAD Forecast July 23, 2013, Technical Analysis

The USD/CAD pair fell during the session on Monday, but as you can see we remain above the 1.03 handle, the area that we have been calling the “floor” in this market. Because of this, we do not think that this market is going to be able to be sold quite yet, but we don’t necessarily have a buy signal either. That being said, we are very neutral this market at the moment and recognize that we need to either close below the 1.03 handle in order to start selling, or close above the 1.0450 level in order to start buying.



Written by FX Empire