Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Solid Selling Interest In USD/CAD Ahead Of 1.03

|Includes:CurrencyShares Canadian Dollar Trust ETF (FXC)

USD/CAD (NYSEARCA:FXC) remains near the highest levels of the session at 1.0280. Option barriers at 1.03 are likely to be defended and the corporate order board is splattered with bids from there to 1.0360.

I still like longs in this pair but with momentum indicators at the most overbought levels since October, buying the dips is the prudent strategy until the headlines suggest a better outcome in Europe/China.

http://www.forexlive.com/blog/2012/05/24/solid-selling-interst-in-usdcad-ahead-of-1-03/

Stocks: FXC