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USD/CAD Classical 03/11/2010
Written by article default Wednesday, 03 November 2010 12:40
USD/CAD: As expected, the market was very well supported on dips below parity, with the latest sharp bounce back above 1.0200 solidifying our constructive outlook and opening the door for significant gains over the coming weeks. Look for continued appreciation towards the multi-week highs by 1.0700 over the coming weeks, with only a break back below 0.9980 to ultimately negate outlook and give reason for concern. A higher low is now sought out above 0.9980 ahead of the next major upside extension to be confirmed on a break back above key short-term resistance at 1.0375.
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