USD/CAD Forecast for the Week of April 16, 2012, Technical Analysis

The USD/CAD pair rose during the week, but had a rough ride to get there. The market was back and forth, and we saw a lot of knee-jerk reactions to various issues. The oil markets and headlines out of Europe will continue to push this market around, so we will have to keep an eye on those areas to gauge whether or not this market should rise or fall. 

The parity to 1.01 levels is massively resistive, and should continue to fight the bulls. However, the 0.99 level below would be a support level we need to see broken in order to sell. The market should continue to be tight though, and as a result we are flat until one of these areas gets broken. 

USD/CAD Forecast for the Week of April 16, 2012, Technical Analysis
USD/CAD Forecast for the Week of April 16, 2012, Technical Analysis

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