USD/CAD Forecast September 23, 2013, Technical Analysis

The USD/CAD pair rose during the session on Friday, but still looks very vulnerable to the downside. At this moment time though, we do recognize the fact that the weekly candle is a bit of a hammer, so there is the possibility that we try to go higher. Even saying that though, there’s only a certain amount of room before we hit the 1.04 handle, an area that we fully expect to be resistant. With that being said, we are more apt to sell on the short term, and by and the long-term.



Written by FX Empire