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USD/CAD Forecast April 22, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Friday, 22 April 2016 06:38 UTC
The USD/CAD pair rose during the course of the session on Thursday, as we finally got a bit of a bounce. However, there is a massive amount of resistance above so it’s very likely that we will continue to see sellers until we get above the 1.30 level. If that happens, then we can start to think about longer-term moves to the upside. In the meantime, we are simply waiting to see whether or not we are going to get an exhaustive candle to start selling yet again in what has been a very strong move lower.

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