USD/CAD Forecast February 21, 2012, Technical Analysis

USD/CAD gapped down at the open during the Monday session in Asia, only to turn around and fill the area. The pair is very bearish at the moment, but the 0.99 level has been putting up a good fight for the bulls. The pair has support all the way down to the 0.9750 level, and as a result we haven’t been selling this pair. The 1.01 level above should continue to offer resistance, and as a result we see this pair as very tight and a market we are currently waiting to see if it can break out of the very tight consolidation area.

USD/CAD Forecast February 21, 2012, Technical Analysis
USD/CAD Forecast February 21, 2012, Technical Analysis

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