USD/CAD Forecast August 20, 2015, Technical Analysis

The USD/CAD pair initially fell during the day on Wednesday but turned back around to form a very bullish candle as we charged towards the 1.32 handle. With this, we feel that the market is trying to break out, but we will more than likely have to make several attempts to build up enough momentum to do so. With that being the case, we are bullish of this market but recognize that pullbacks will be needed on short-term charts in order to get involved. We have no interest whatsoever in selling this pair right now.