The USD/CAD pair went back and forth during the session on Friday as the 0.99 handle continues to be a magnet for price. However, by the end of the day the market closed below that level, and does look rather week. Below current pricing however is the 0.98 handle which of course is massively supportive. Because of this, we will need to see a move below that level in order to start selling. As far as buying is concerned, we see far too much resistance all the way up to the 1.0050 level in order to do so.
Written by FX Empire