USD/CAD Forecast March 14, 2016, Technical Analysis

The USD/CAD pair fell slightly during the course of the session on Friday, as we continue to see bearish pressure in this market. The oil markets have been very strong lately, so that of course has been working against this currency pair, but eventually we feel that there has to be some type of snapback. At this point in time, we feel that this market is probably going to target the 1.30 level, which is the next natural barrier below. Rallies at this point in time will continue to be sold off at our opinion, so we are looking for exhaustive candles in order to take advantage of “value” in the Canadian dollar.