Dollar Versus Loonie and Pound July 20th

FX Strategy Video > Currency Pairs Analysis

USD/CAD fell on Thursday to finally clear the 1.01 support level. The area leaves a run to the parity level likely, and at that point we would expect to see buyers step back into the markets. The oil markets broke out for the session, so a move into the Canadian dollar wouldn't be a surprise.

The GBP/USD surged higher on Thursday as the 1.57 level was cleared. However, the resistance runs all the way to the 1.58 level in our opinion, so while we are bullish of hte pair, we are still waiting for all of that noise to get cleared out.

Published on 19th of July 2012
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