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USD/CAD Forecast January 7, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 07 January 2016 06:17 UTC

The USD/CAD pair rose again during the course of the session on Wednesday, breaking above the 1.40 level. Ultimately, this is a market that is in a very strong uptrend, and we have broken above a significant amount of resistance over the last couple of sessions, and as a result we feel that this market should continue to go higher over the longer term. Short-term pullbacks offer buying opportunities, and oil markets continue to fall so of course that is going to put a lot of pressure on the Canadian dollar overall.

USD/CAD Forecast January 7, 2016, Technical Analysis

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