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USD/CAD Classical Technical Report 02.02

USD/CAD Classical Technical Report 02.02

2012-02-02 07:22:00
Joel Kruger, Technical Strategist
Daily_Classical_USDCAD_body_cad2.png, USD/CAD Classical Technical Report 02.02

USD/CAD: Our constructive outlook remains intact despite the latest interday pullback with the market largely still consolidating around parity ahead of what we believe will be an eventual retest of the key October highs by 1.0660. From here, look for any interday pullbacks to be very well supported above 0.9950 on a daily close basis, while ultimately, only a close below 0.9900 would give reason for concern.

--- Written by Joel Kruger, Technical Currency Strategist

To contact Joel Kruger, email jskruger@dailyfx.com. Follow me on Twitter @JoelKruger

To be added to Joel Kruger’s distribution list, send an email with subject line “Distribution List” to jskruger@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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