USD/CAD Forecast September 5, 2013, Technical Analysis

The USD/CAD pair fell during the session on Wednesday as you can see, testing the 1.05 handle significantly. However, this is an area that brings in a bit of support, as does the area all the way down to the 1.04 handle. With that being the case, we feel that this market will more than likely have buyers every time it falls, and because of that we feel that this market will eventually make a move higher. The 1.06 level is a resistance area that we need to see taken out to the upside in order to start buying, and that’s exactly what we will do given the opportunity.



Written by FX Empire