USD/CAD Forecast July 30, 2015, Technical Analysis

The USD/CAD pair broke higher during the course of the session on Thursday, clearing the top of the hammer that informed on Wednesday. We had suggested that this market was going to continue to consolidate in the area just above, and that looks like what it did after all. Ultimately we believe that the market breaking above the 1.31 level is what will have to happen in order for the uptrend continued, which should eventually happen. Pullback should be buying opportunities on short-term charts as long as we can stay above the 1.28 level.