USD/CAD Forecast December 6, 2013, Technical Analysis

The USD/CAD pair fell during the session on Thursday, retracing all of the gains from Wednesday. However, we are still well above the 1.06 handle, an area that we expect to be significant support. Today is nonfarm payroll Friday though, and that has a massive effect on this marketplace. Because of this, we will wait until the end of the session to make a decision on whether or not to enter this market, but we fully expect to see the US dollar gain strength if the jobs number ends up being strong.

Written by FX Empire