USD/CAD Forecast August 11, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Thursday, 11 August 2016 06:30 UTC
The USD/CAD pair fell rather significantly during the course of the session on Wednesday, testing the 1.30 level. This is an area that offers quite a bit of support, so the fact that we bounced from there isn’t much of a surprise. With this, I believe that we will sooner or later find enough buying pressure, but if we do break down below the 1.30 level with a significant move, that could send this market back down to the lower levels previously seen. Ultimately, this is a market that should continue to be very volatile in the short-term.

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