USD/CAD Forecast July 1, 2015, Technical Analysis

The USD/CAD pair initially fell during the course of the session on Tuesday, but found enough support to turn things much higher. We tested the 1.25 level above, as it is of course a large number, but at the end of the day we think that it is still going to be a bit choppy and while most people don’t recognize this, this is one of the more volatile pairs when the employment numbers out of the United States come out. With that, we think that pullbacks could offer short-term buying opportunities but beyond that we really don’t have much in the way of a trading opportunity.