By CountingPips.com
USD/CAD: The dollar fell sharply against the Canadian dollar last week after closing the previous two weeks above the 1.0500 price level. This week prices will open right just below the 1.0400 level and may find the major 1.0500 level as a resistance level. Near term support for the pair to start the week is 1.0325 — 1.0350 area with the 1.0250 area looking below as a support level. Bullish price action will likely run into resistance at this 1.0425 — 1.0450 level before the 1.0500 comes into play.
Written by Zac Storella, CountingPips Forex Blog & Currency Pair Technical Analysis
