The USD/CAD pair fell during the Monday session as the oil markets gained for the day. The pair has run below the 0.99 support level, but has many more to worry about as well. The 0.99, 0.98, 0.9750, and 0.97 levels all look like supportive levels, and we don't like selling at this point because of this problem. Admittedly, if we had to take a position, it would be short. But we don't and this is the point. We are flat in this market currently until we break below the 0.97 level as it would show massive amount of support giving way. On the up side, we need to see 1.01 taken in order to buy at this point.

USD/CAD

USD/CAD Forecast March 20, 2012, Technical Analysis

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
0.9777
0.9818
0.9849
0.9890
0.9921
0.9962
0.9993

 Fibonacci
0.9818
0.9846
0.9863
0.9890
0.9918
0.9935
0.9962

 Camarilla
0.9859
0.9866
0.9872
0.9890
0.9886
0.9892
0.9899

 Woodie's
-
0.9816
0.9843
0.9888
0.9915
0.9960
-

 DeMark's
-
-
0.9906
0.9883
0.9834
-
-