USD/CAD Forecast July 31, 2013, Technical Analysis

The USD/CAD pair had a positive showing during the Tuesday hours, breaking above the 1.03 level towards the end of the day. This looks like the market that’s trying to bounce, but quite frankly we think that the 1.04 level could be rather resistive. A lot of the movement in this market will have to do with what the Federal Reserve has to say later today, so having said that it’s probably best to leave this market alone until we get a daily close considering that the statement could be significantly important.



Written by FX Empire