USD/CAD Forecast January 28, 2016, Technical Analysis

The USD/CAD pair fell slightly during the course of the session on Wednesday, testing the 1.40 level. The area just below is massively supportive in our opinion, so we are waiting to see whether or not we get some type of supportive candle. In fact, we believe that the support runs all the way down to the 1.38 level, so at this point in time we are simply waiting for a buying opportunity as the trend is most certainly to the upside and it’s only a matter of time before the buyers return.