USD/CAD Forecast April 7, 2017, Technical Analysis

USD/CAD daily chart, April 07, 2017

The US dollar initially tried to rally against the Canadian dollar on Thursday but with the oil markets rallying, that gave a bit of a boost to the Canadian dollar and we turned right back around and reach towards the 1.34 handle. Because of this, I believe that we may find buyers just below but with today being Nonfarm Payroll in the United States, expect a lot of volatility. I believe the pullbacks will probably be bought, but you may have to wait until a daily candle is formed to get that signal.

Written by FX Empire