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USD/CAD Forecast June 8, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 08 June 2016 08:01 UTC
The USD/CAD pair initially fell during the course of the session on Tuesday, but bounced enough to form a bit of a hammer. The hammer been broken to the upside would be a bullish sign and we could very well reach back to the upside, aiming for the 1.30 level. A break down below the bottom of the hammer would be reason enough to start selling, and would coincide with a break out in the oil market, as the oil markets have such a massive influence on the Canadian dollar in general.

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