USD/CAD Forecast August 23, 2013, Technical Analysis

The USD/CAD pair rose during the session on Thursday, continuing the rally that we have seen over the last couple of days. In fact, the pair moved above the 1.05 level, which of course is a psychologically significant number. That being the case, we are still bullish of this market, and look for pullbacks that show signs of support as entries to go long of this market. In fact, we think the 1.04 level will now be the “floor” in this marketplace going forward. Because of that, we have no plans to sell.



Written by FX Empire