By FXEmpire.com
The previous week has seen another round of consolidation in this pair, and it is now obvious that the parity level is massive resistance. However, the 0.98 level below is fairly significant support as well. With this being said, we are looking at a market that simply isn’t going anywhere from a longer-term perspective. In other words, the pair will be a poor long-term trade in the meantime. The breaking of the 1.01 level signals a nice buy entry, and the breaking of the 0.98 level offers a nice sell signal. Until then – this is a short-term traders pair only.
USD/CAD Forecast for the Week of April 2, 2012, Technical Analysis
Originally posted here
