USD/CAD Forecast February 10, 2012, Technical Analysis
Technical Reports
USD/CAD fell slightly during the session on Thursday, continuing a pattern of range bound trading that we have seen over the last several days. The 0.99 level continues to act as support, and the parity level continues to act as resistance. The pair looks extraordinarily tight at the moment, and the market is probably one best avoided currently.
The 1.01 level is what we need to see broken in order to buy, and the 0.9750 level below is the bottom of our support area. Because of this, we feel that this market will continue to be choppy, and quite frankly not worth the hassle.
USD/CAD Forecast February 10, 2012, Technical Analysis
Christopher is a part of the FXEmpire.com analysis team. He writes Forex and Commodities technical analyses on daily and weekly basis. Christopher writes his analyses in a professional and yet simple to understand manner. His analyses are available in both text and videos.
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