By FX Empire.com
The USD/CAD pair rose rapidly on the Wednesday session as the “risk off” trade continues. The breaking of the 1.03 level that we mentioned a few days ago signaled the next leg up in this pair, and now we are waiting to see if this is a short-term trade, or long. If we break above the 1.07 level, this pair should see 1.10 before too long. The pair is a “buy on the dips” pair at the moment as the headline risks continue to come along, and oil markets are under tremendous pressure at the moment.
USD/CAD Forecast Nov. 24th, 2011, Technical Analysis
Originally posted here
