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USD/CAD Forecast February 24, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 24 February 2016 05:59 UTC
The USD/CAD pair tried to rally during the course of the session on Tuesday, but turned right back around to form a somewhat negative candle. Because of this, the market should continue to chop around back and forth, as we see a major amount of support all the way down to the 1.35 level below. A supportive candle is reason enough to start buying, and of course you have to keep an eye on the oil markets, as falling oil prices could very well send this pair higher again because the Canadian dollar is so sensitive to crude markets.

 

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