USD/CAD Forecast April 2, 2015, Technical Analysis

The USD/CAD pair went back and forth on Wednesday, essentially settling on a relatively neutral candle but did have a little bit of bearishness to it. The market looks as if it’s ready to continue to drop a little bit, probably finding support at the 1.24 handle. We look for supportive candles below in order to continue going long as the US dollar is without a doubt the strongest currency in the world. On top of that, the oil markets are fairly soft at the moment, and that of course will do nothing to help the Canadian dollar going forward.