USD/CAD Forecast March 21, 2017, Technical Analysis

USD/CAD daily chart, March 21, 2017
USD/CAD daily chart, March 21, 2017

The USD/CAD pair fell slightly during the day on Monday, testing the 1.33 level IV support. We turn around and form of supportive looking candle, reaching towards the 1.3350 handle. I think on a break above the top of the range from the Friday session, the market is free to go to the 1.35 handle, and with the way oil is selling off, I fully expect that to happen. With this, I continue to buy pullbacks, and have no interest whatsoever in selling this market as oil look so fragile currently, and should continue to weigh upon the Canadian dollar.

Written by FX Empire