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FX.co ★ USD/CAD Expectation of a Rebound January 07, 2011 (Daily Strategy)

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Forex Analysis

2011-01-07T14:04:34
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USD/CAD Expectation of a Rebound January 07, 2011 (Daily Strategy)

USD/CAD Expectation of a Rebound January 07, 2011 (Daily Strategy)

USD/CAD

Because of the market remaining under intense pressure, the pair U.S. dollar - Canadian dollar will probably look for soil settling around 0.9880 where it will be a trigger to buy.

A rebound around the weekly support line of 0.9880 paves the way back to an equilibrium level of 1.0000 and later even a resistance level around 1.0070.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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