USDCAD Breaks Below 1.02

20 Jun
2012
by in Uncategorized

The USDCAD isn't sure what it want's to do.  Oil continues to drop but so does the dollar against the majors.  If the dollar could gain traction in the near term we could see a  marked move higher in the pair.  In the meantime support begins at 1.0135 followed by 1.0050.  Resistance begins at 1.0230.

Sup  1.0135              1.0050

Res   1.0230

Summary: Below 1.0230 could lead to a move to the 1.0050 zone