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USD/CAD Classical 03.16

USD/CAD Classical 03.16

2010-03-16 06:19:00
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 by some solid multi-week range support by the 1.0200 handle, and we look for the latest dip below the figure to once again be well supported in favor of some renewed strength over the coming days. As per our commentary in the previous week, we did not rule out the possibility for a break below 1.0200, but setbacks below this level are not expected to be sustained.

 

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