Dollar Versus Loonie and Franc May 24th

FX Strategy Video > Currency Pairs Analysis

USD/CAD shot straight up again on Wednesday as the oil markets fell. However, the late day risk rally turned things around to produce a wicked shooting star at the 1.03 level. This could have the market selling in the short term, but we only see this as a pullback from which to buy over the next couple of sessions. A supportive candle above 1.01 has us buying.

The USD/CHF pair ran into the 0.96 level on Wednesday to find serious resistance. The pullback that should be coming will more than likely end up being a buying opportunity, and we are treating it as such.

Published on 23rd of May 2012
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