USD/CAD Forecast Nov. 21st, 2011, Technical Analysis

USD/CAD rose during the session on Friday as the pair continues to grind higher just below the 1.03 level. The pair’s has been in consolidation recently, and the oil markets have been pushing it around. The 1.03 level does look vulnerable, and we are waiting for a daily close above it to send this pair to the 1.07 mark. The failure to do so would lead to more consolidation which has been very choppy. The easiest trade will be to buy at this point, if the market gives us this signal.

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