USD/CAD Forecast March 11, 2016, Technical Analysis

The USD/CAD pair went back and forth during the day on Thursday, as we continue to try to find some type of support in order to rally again. With this being the case, it’s likely that the market will eventually try to reach the 1.35 level, where we would anticipate quite a bit of resistance. With that being the case, we are simply stepping to the sidelines at this point in time until we can clear the 1.35 level on a daily close, which of course would show not only a break out, but quite a bit of confirmation of the move.