USD/CAD Forecast March 21, 2016, Technical Analysis

The USD/CAD pair fell initially during the day on Friday, but it now appears that the uptrend line may catch this market and turning back around. With this, and the fact that the 1.30 level coincides quite nicely with this market, we are buyers on a break above the top of the hammer as it should send this market to much higher levels, with the first real target being the 1.34 handle. Keep in mind that oil markets tend to influence the Canadian dollar, so if they start falling, this pair should start rising.