The USD/CAD pair fell ever so slightly during the Friday session as the oil markets rose just a bit. The market for this pair is highly congested, and as such a difficult one to trade at this time. There is a massive resistance area from parity to the 1.01 handle, and several support levels below. These include the 0.99, 0.98, 0.9750, and 0.97 as well. The pair needs to get out of this range for us to feel comfortable trading it either way. A close above the 1.01 level has us long, and a close below the 0.97 level has us short. Until then, this is a scalper's pair.

USD/CAD

USD/CAD Forecast March 19, 2012, Technical Analysis

USD/CAD Pivot Points (Time Frame: 1 Day)

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.9897
0.9903
0.9907
0.9913
0.9917
0.9923
0.9927

 Fibonacci
0.9903
0.9907
0.9909
0.9913
0.9917
0.9919
0.9923

 Camarilla
0.9908
0.9909
0.9910
0.9913
0.9911
0.9912
0.9913

 Woodie's
-
0.9902
0.9906
0.9912
0.9916
0.9922
-

 DeMark's
-
-
0.9915
0.9912
0.9905
-
-