USD/CAD Forecast April 8, 2013, Technical Analysis

The USD/CAD pair shot straight up during the session on Friday, cracking the 1.02 level during the day. However, we saw bit of a pullback as we approach the 1.0240 level, and it is up forming a big massive shooting star. It appears that we still need to attempt to break down below the 1.01 support level, and at that point time we will make our next trading decision. If we managed to find support down there we would be willing to buy, just as were willing to buy on a break of the top of the shooting star formed on Friday.



Written by FX Empire