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USD/CAD Forecast January 13, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 13 January 2016 05:26 UTC

The USD/CAD pair initially fell during the course of the day on Tuesday but found enough support below the 1.42 level to turn things around and go higher. This is a very strong uptrend at this point in time, and as a result we are very bullish of this pair. The crude oil markets continue to fall, and that of course continues to work against the value the Canadian dollar. Given enough time, we believe that this market should then go to the 1.45 handle, and then perhaps even higher than that as this becomes a longer-term “buy-and-hold” type of market.

USD/CAD Forecast January 13, 2016, Technical Analysis

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