USD/CAD Forecast for the Week of June 11, 2012, Technical Analysis

The USD/CAD pair had a very bearish week overall as it fell from the 1.04 level. The area is considerable resistance, and as a result we could be looking at a set up to return to the longer term consolidation area between 0.99 and 1.04 or so. However, the move has been impulsive enough that we think there is more to it. In fact, we actually prefer to buy this pair if we can get the break of the recent highs that we want to see. Obviously, oil markets will come into play as they always do. 

USD/CAD Forecast for the Week of June 11, 2012, Technical Analysis
USD/CAD Forecast for the Week of June 11, 2012, Technical Analysis

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