USD/CAD Forecast March 24, 2016, Technical Analysis

The USD/CAD pair rose during the day on Wednesday, breaking the top of the range for Tuesday which of course is a fairly bullish sign. We tested the 1.32 level, and believe that this market will then go to the 1.34 level. We are bullish, but recognize that it might be easier to buy this market on short-term pullbacks as the noise above will cause quite a bit of volatility. If oil continues to fall, this pair will continue to rise as it has a negative effect on the value the Canadian dollar.