By FXEmpire.com
The USD/CAD pair ended up falling for the week, but it must be said that we are currently sitting just above support at the parity level. The candle for the week looks pretty much undecided although it does have a slightly bearish look to it.
The area below should be rather supportive all the way down to the 97.50 area, and as such we really aren’t too excited about buying this pair at this current point in time. However, if we get a break of this week’s highs, we think this pair could go quite a way higher such as the 1.04 level for instance. In the meantime however, we need to see the top of this market broken or the 0.9750 level broken in order to place a longer-term trade.
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Originally posted here
