USD/CAD Forecast July 1, 2013, Technical Analysis

The USD/CAD pair rallied during the session on Friday, but as you can see the 1.0550 level has offered resistance yet again. The resulting pullback looks like we are going to continue to consolidate between the 1.0550 level and the 1.0450 level at the bottom. Foot forward, we expect to see positive price action, but it is possible we could consolidate in the short term. We fully expect the move higher, and a break above 1.0550 would signify that move. We are buyers only, and will continue to be so until we managed to break down below the 1.03 handle.



Written by FX Empire