USD/CAD Forecast July 7, 2015, Technical Analysis

The USD/CAD pair initially fell during the course of the session on Monday, but found enough support below to turn things back around and form a fairly positive candle. Because of this, we believe that the market will continue to grind its way higher, heading towards the 1.2850 level, which was the longer term high that we had recently. We believe the pullbacks will continue to find buyers somewhere near the 1.25 level, so we are bullish but recognize that there will be quite a bit of volatility in the short-term as well markets are just as volatile.