USD/CAD Forecast April 17, 2017, Technical Analysis

USD/CAD daily chart, April 17, 2017

The USD/CAD pair did very little on Friday as most markets are finding little in the way of volume. The market breaking above the 1.3350 level should send this market to the upside, and if oil markets roll over that should only help. Ultimately, I think that the longer-term trend is still to the upside, although we have seen quite a bit of volatility lately. Once we get above the 1.36 level, it becomes more of a “buy-and-hold” type of situation. I have no interest in shorting, even if we break down a little.

Written by FX Empire