USD/CAD Technical Analysis August 8, 2011

The USD/CAD pair finished the day fairly flat after rising, falling, and generally chopping the market back and forth. The day in the oil markets was very wild as well, and this would certainly have an effect on the Loonie. The 0.98 resistance area has held again and a break of the Friday lows wouldn’t be a bad entry signal for a sell position. We don’t like buying this pair, so we will only look for this signal.

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