USD/CAD Technical Analysis for the Week of August 15, 2011

The USD/CAD pair found itself rising during the week, but failed at the parity level. The pair looks set to fall from the current level, and as such – we could see a nice run for a few handles. The trend is down, and we think that the oil markets are trying to find a bottom. This will be bullish for the CAD as well. Any hint of QE3 from the Fed this week: This pair falls, and falls fast.

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