USD/CAD Forecast August 2, 2013, Technical Analysis

The USD/CAD pair rose during the session on Thursday, breaking the top of the range from the Wednesday candle. With that being said, it appears this market is going to try and make a run towards the 1.04 handle where it should run into relatively significant resistance. For us, it’s much easier to buy this pair once we get above the 1.0450 handle, as it would clear significant amount resistance at that point. Right now though, we are not interested in selling this pair unless we see the right resistive candle at the 1.04 level, which of course we can always check at the end of the session.



Written by FX Empire