USD/CAD Forecast April 11, 2016, Technical Analysis

The USD/CAD pair fell during the course of the session on Friday, testing the 1.30 level for support. This is an area that shows quite a bit of support, and it extends all the way down to the 1.29 level. That being the case, the market should continue to find buyers in this area, but if we break down below the 1.29 level, this market could start falling apart and we could then see some real weakness in this pair. Keep in mind that the oil markets tend to influence the Canadian dollar.