USD/CAD Forecast September 2, 2015, Technical Analysis

The USD/CAD pair initially broke higher during the course of the session on Tuesday, but found enough resistance above to turn things back around and form a shooting star. This will be interesting to pay attention to, but we recognize that a break below the bottom of the shooting star isn’t necessarily a signal to start selling. The 1.30 level below should be supportive, and as a result we are looking for some type of supportive candle in order to start buying again. Is not until we break down below the 1.28 level that we would consider selling.