USD/CAD Forecast July 1, 2016, Technical Analysis

The USD/CAD pair broke higher during the course of the session on Thursday, slicing through the 1.30 level. However, we have been consolidating in general, and as a result I think it can be difficult to trade this market for any real length of time. Currently, I’m on the sidelines as I believe there isn’t much room to move without facing pressure in one direction or the other, and therefore I believe that the market will not be able to be traded anytime soon, so I am simply going to wait to see whether or not get a much clearer signal.