USD/CAD Forecast April 14, 2016, Technical Analysis

The USD/CAD pair rose slightly during the course of the session on Wednesday, but still seems to be hanging about the 1.28 handle. With this being the case, it’s very unlikely that the buyers can come in and push this market in the short-term. The 1.30 level is of course very important, so as long as that holds and of course the uptrend line, we should still remain negative and sell short-term rallies and of course a break down to a fresh, new low. Keep in mind that oil does tend to drive this market as well.