USD/CAD Forecast July 26, 2013, Technical Analysis

The USD/CAD pair fell during the session on Thursday, breaking well below the 1.03 handle yet again. At this point time, the market does look like it is struggling to fall, but in reality we feel that this market is going to continue lower now. A break of the lows from the Thursday session is enough to get us to start selling, and aiming for the 1.01 level. If we get to that point, we also expect to see parity eventually, but somewhere between parity and 1.01, we think there could be a significant amount of support. Headlines will still move this market, especially the ones involving the Federal Reserve.



Written by FX Empire