By FX Empire.com
USD/CAD rose during the session on Friday, even as oil prices jumped. This is very counterintuitive to what the normal relationship is, and this pair has been doing this for a while now. Because of this, we are suspicious of the Canadian dollar at the moment, and aren’t looking to be involved in this pair.
The parity level continues to attract price, and there is a massive resistance point at 1.01 or so. The support areas below go all the way down to the 0.9750 level and because of this – we don’t see selling either. With all of this in mind, it’s just easier to stay out of this pair.
USD/CAD Forecast February 27, 2012, Technical Analysis
Originally posted here
