USD/CAD Forecast April 25, 2016, Technical Analysis

The USD/CAD pair initially fell during the day on Friday, but turned back around to form a bit of a hammer. The hammer of course is a bullish sign, so if we can rally from here we should see a bit of a move higher. Ultimately, there is a massive amount of resistance at the 1.30 level above, and with that being the case if we get an exhaustive candle it would be time to start selling again. Also, if we break down below the bottom of the hammer, that would be a selling opportunity as well.