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USD/CAD Forecast December 28, 2015, Technical Analysis

Daily Forex Reports | by FX Empire | Saturday, 26 December 2015 12:23 UTC

The USD/CAD pair did very little during the session on Thursday, as we essentially formed a neutral candle. Ultimately, we believe that this market has quite a bit of bullish pressure underneath, and with this we think it’s only a matter of time before the buyers get back in and push this pair higher. Oil markets are working against the value of the Canadian dollar quite drastically at the moment, and as a result we don’t see any real reason for this market to fall for any real length of time. We believe that the 1.35 level is massively supportive, and therefore it is only a matter time before we finally break above the 1.40 handle.

USD/CAD Forecast December 28, 2015, Technical Analysis

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