USD/CAD Forecast July 22, 2013, Technical Analysis

The USD/CAD pair fell during the session on Friday, in order to stay within the grinding range that we have been in recently. We have to admit though, this is not a positive sign for this pair at this point time, but not enough to start selling. On a move above the 1.0450 handle however, we could start buying. On a move below the 1.03 handle, we think that support has given way and the market starts a selloff in aim possibly as low as parity before it’s all said and done.


Written by FX Empire