USDCAD May be looking for 1.0420

31 May
2012
by in Uncategorized

The USDCAD broke above the 1.0310 resistance level and held onto its gains into the New York close.  As long as the pair remains above 1.0310, which is now support, the cross could be looking to test the 1.0420 level.  HEading into Friday's trading I would expect the pair to remain range bound prior to NFP.

 

Sup  1.0310

Res   1.0420