USD/CAD Forecast October 2, 2012, Technical Analysis

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USD/CAD fell during the session on Monday, as the 0.98 handle was tested as support yet again. However, we got a little bit of a bounce by the end of the session in order to keep the market in the current 50 pip trading range. Looking at this market, it appears that we are stuck between 0.98 and the 0.9850 levels. We think that this market will do almost nothing until we get our employment numbers on Friday out of United States. As these two currencies and economies are so highly interconnected, we think that sideways choppy markets will be the norm this week.

 

USD/CAD Forecast October 2, 2012, Technical Analysis

USD/CAD Forecast October 2, 2012, Technical Analysis

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About: FX Empire Analyst - Christopher Lewis

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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