USD/CAD Forecast April 11, 2013, Technical Analysis

The USD/CAD pair fell slightly during the session on Wednesday as we continue to meander around between the 1.01 handle, and the 1.02 level. With that being the case, this market really isn’t worth been bothered with right now, but we do want the 1.01 handle for support, and fully expect the market to stay above that level. If we close below that on a daily chart, we would start shorting at that point in time. Alternately, we managed to break above the 1.0250 handle; we would be willing to start buying. Until then we are simply staying out.



Written by FX Empire