USD/CAD Forecast May 9, 2016, Technical Analysis

The USD/CAD pair initially fell during the course of the day on Friday, but turned right back around to continue the bullish pressure. With this being the case, we are now ready to test the 1.30 level above, which is massive resistance. If we can break above the 1.30 level, the market should continue to go higher. We have no interest in selling this pair at the moment, although we do look a whole lot like we are getting a bit stretched at this point in time. Perhaps we have reached the bottom.