Advertisement
Advertisement
USD/CAD Technical Analysis September 5, 2011
Updated: Jan 1, 2011, 00:00 GMT+00:00
USD/CAD rose on Friday as the Non-Farm Payroll report disappointed. The Canadian economy depends on exports to the US, so a weak US means a weak Canada.
USD/CAD rose on Friday as the Non-Farm Payroll report disappointed. The Canadian economy depends on exports to the US, so a weak US means a weak Canada. However, we are below some very serious resistance areas in this pair, and cannot go long until we close above the parity level on the daily chart. In the mean time, we can only sell rallies as they come.
About the Author
Christopher Lewisauthor
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.
Advertisement