USD/CAD Forecast September 3, 2013, Technical Analysis

The USD/CAD pair did almost nothing during the session on Monday as one would expect. After all, this pair is more heavily traded during North American trading hours, and both the Americans and Canadians were celebrating Labor Day. Because of this, the pair would’ve been thin most of the session, if not the entire Forex trading day. However, we are still looking rather supported at the 1.05 handle, and a move above the 1.06 handle has is buying this market hand over fist. As far as selling is concerned, we think there is far too much support all the way down the 1.04 in order to think about it.



Written by FX Empire