USD/CAD Forecast March 15, 2016, Technical Analysis

The USD/CAD pair rose during the course of the session on Monday, as it looks like we are trying to find a bit of a bounce. With this, we will have to pay attention to the oil markets, which of course are selling off during the day on Monday as well. If they continue to do so, the market should bounce in favor of the US dollar as the Canadian dollar is so highly sensitive to the commodity. Be aware though, the 1.35 level above could be massively resistive, so expect a lot of volatility even if we do continue higher.