USD/CAD Forecast June 8, 2015, Technical Analysis

The USD/CAD pair initially rallied during the session on Friday, but found a bit of resistance at the 1.2550 level to turn things back around and form a rather negative candle. If we can break down below the 1.2380 handle, we feel the market will then head to the 1.22 handle. The meantime, this is a very consolidated market, and therefore we don’t really have any interest in putting money into it as the volatility will be a great way to lose your trading capital if you aren’t careful at the moment.