The USD/CAD pair did very little during the session on Friday, ultimately ending up slightly lower. We are currently just above the 1.02 handle, which is
The USD/CAD pair did very little during the session on Friday, ultimately ending up slightly lower. We are currently just above the 1.02 handle, which is a minor level at best by our calculations. The 1.01 level was the site of significant resistance previously, and we think the market is going to slowly grind lower until it retests that area. If we do, we would be interested in buying this market as long as we see supportive action down near that level. Otherwise, we have no real interest in trading this market at the moment.
USD/CAD Forecast March 25, 2013, Technical Analysis
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
