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USD/CAD Forecast August 17, 2016, Technical Analysis

Daily Forex Reports | by FX Empire | Wednesday, 17 August 2016 05:44 UTC
The USD/CAD pair fell during the course of the day on Tuesday, slicing through the 1.28 level at one point. However, we did bounce a bit so I don’t think this market necessarily ready to meltdown. It does look fairly negative at the moment though, and that of course has to be taken into account. Ultimately, we get the crude oil inventory numbers coming out today and I can have a great influence on this market. At this point though, it looks as if short-term rallies that show signs of exhaustion might offer short-term selling opportunities.

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