USD/CAD Forecast June 3, 2016, Technical Analysis

The USD/CAD pair rose during the course of the session on Thursday, as we continue to see strength in the US dollar against the Canadian dollar. Oil markets struggle, and that of course propels the US dollar higher against the Loonie. With this, if we continue going higher, and more and poorly break above the 1.32 level, I’m a buyer of this pair as we would continue to go higher over the longer term. Pullbacks at this point in time should be supported somewhere near the 1.30 handle below as it has been important more than once.