USD/CAD Forecast July 12, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Tuesday, 12 July 2016 08:18 UTC
The USD/CAD pair broke higher during the day on Monday, as we continue to see bullish pressure in this market. Oil markets look a little bit soft at this point in time, and as a result I believe that the Canadian dollar will continue to soften as well. If we can break above the 1.32 level, I feel that this market should continue to go much higher. I think pullbacks will find plenty of support near the 1.29 level, so at this point in time it is a choppy move higher, but it does look like it is ready to happen.

Recommended Forex Trading Platforms

Forex Trading We know that the right opportunity can happen at anytime, anywhere. Saxo Capital Markets is committed to giving you a suite of platforms that will enable you to access your account and trade the markets whenever and wherever you want.


Subscribe to Newsletter

To receive alerts by email when Free Forex Analysis are updated. Enter your email address below.