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USD/CAD Classical 03.12

USD/CAD Classical 03.12

2010-03-12 06:37:00
Joel Kruger, Technical Strategist
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cad2

USD/CAD: Our overall outlook for the pair remains highly constructive and as such, any dips should be used as formidable buy opportunities. The market currently resides just above some solid multi-week range support by the 1.0200 handle, and we look for the latest dip towards the figure to once again be well supported in favor of some renewed strength over the coming days. While we can not rule out the possibility for a break below 1.0200, any setbacks below this level are however not expected to be sustained on a close basis.

 

Written by Joel Kruger, Technical Currency Strategist for DailyFX.com
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