USD/CAD Forecast March 17, 2016, Technical Analysis

The USD/CAD pair initially tried to rally on Wednesday but turned back around form a bit of a shooting star. Quite frankly, there is quite a bit of resistance just above so that can be difficult to go long at this point. If we can break above the 1.35 level however, that would be a very positive sign. There is a massive uptrend line just below though, so we believe that buyers will show up sooner or later. Pay attention to the oil markets, they break down then this market becomes one that you want to buy.