USD/CAD Forecast April 21, 2017, Technical Analysis

USD/CAD daily chart, April 21, 2017

The USD/CAD pair rallied at the open on Thursday, but found the 1.35 level to be resistive enough to turn the market around. Because of this, I think that the market is going to look for buyers underneath, and at the first signs of a supportive candle I’m willing to go long. I would also be a buyer above the 1.35 handle, especially if the oil markets start to roll over like they have been over the last couple of sessions. I have no interest in shorting based upon the impulsive moved to the upside.

Written by FX Empire