USD/CAD Forecast April 6, 2016, Technical Analysis

The USD/CAD pair rose during the course of the day on Tuesday, but pullback a little bit to get some of the gains bank. Ultimately though, it does look like that we are trying to break out in this market, and if the oil markets continue to look soft, we believe that will only push this pair higher and perhaps towards the 1.34 level. Pullbacks will be supported down to the 1.30 level in our opinion, so it’s probably easier to start buying, at least in the short-term when it comes to the USD/CAD pair.