By FXEmpire.com
The USD/CAD pair rose during the session on Wednesday, but lost most of the gains as the pair faded at the first sign of resistance. It is because of this that we feel this pair will more than likely make a move lower in the near future. The candle for the session ended up being a shooting star, which of course is very bearish.
The 0.98 level below is currently the “floor” in the market. It is below there that we are interested in selling this pair. The oil markets will have to be watched, and if they are strong, this pair will fall. Friday’s Non-Farm Payroll numbers will more than likely push this pair around as well. If we get a good number – this pair will fall as well.
Click here a current USD/CAD Chart.
Originally posted here
