By FX Empire.com
The USD/CAD pair fell hard on Friday and pushed the weekly close below the parity level that the market has been consolidating in. However, there is significant support in the 0.99 area, and this leads us to believe that the trading going forward will be choppy. Because of this, we are expecting a bounce, or at the very least a lot of headaches for traders. We are currently flat of this market until we get clear of the 0.9750 support level. In the mean time, there are many other set ups out there that don’t promise so much choppiness.
USD/CAD Forecast for the Week of February 6, 2012, Technical Analysis
Originally posted here
