USD/CAD Forecast July 22, 2015, Technical Analysis

The USD/CAD pair fell during the course of the session on Tuesday, but did find buyers at the end of the day. We believe that this market is simply trying to build up enough momentum to finally break above the 1.30 level. This is a massively resistive barrier above, and as a result we think that the market should continue to bang around before we finally build up the bullish pressure to go higher. Once we do, this becomes a “buy-and-hold” type of market that we will continue to take advantage of over the longer term.