USD/CAD Technical Analysis for July 1, 2011

USD/CAD fell again on Thursday, breaking through the 0.9650 area. This is a very bearish sign, but it is at this point that the pair will find real support. The trading going forward will be approached by us in a bearish manner, but we also expect choppy trading conditions. The oil markets will be key, as they always tend to be when it comes to trading the Canadian Dollar. We sell rallies in this pair.

Written by