USD/CAD Forecast October 26, 2016, Technical Analysis

The USD/CAD pair went back and forth during the day on Tuesday, as we continue to see quite a bit of volatility in this market. We recently had a nice move higher, and I believe at this point in time we are trying to find enough momentum to continue to go higher. I believe that the 1.32 level below will be supportive, so having said that pullbacks represent value that you can take advantage of in my estimation. Keep in mind that we get the Crude Oil Inventory announcement today, so that of course can influence the Canadian dollar overall.