USD/CAD Forecast June 13, 2016, Technical Analysis

The USD/CAD pair initially fell during the course of the session on Friday, but turn right back around to form a hammer. The hammer of course is a bullish sign so we could get a bit of a bounce at this point in time. On top of that, the oil markets did form a bit of a shooting star for the weekly candle, so we could rally from here based upon that as well. If we break down below the lows from the last couple of sessions, we would then more than likely reach towards the 1.25 handle.