USDCAD on the way to parity?

Written March 17, 2010 at 1:37 PM EST by  

gregmike-008811

The 1.0100 level gave way and the price is down testing the next support at the 1.0074 level. This level the last time the price was this low, was a ceiling then floor. A move below this level has little in the way of support until the parity level.   Of course the market will target this and likely will find buyers against the level with stops on a move below. Fundamentally, with oil higher and growth numbers better, this benefits the CAD$ and that lowers the USDCAD.   

gregmike-00880

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