USD/CAD Forecast July 27, 2016, Technical Analysis

The USD/CAD pair went back and forth during the course of the session, pulling back in order to find buyers, meaning that we should continue to go higher given enough time. After all, the oil markets are struggling and we do get crude oil inventory numbers coming out of the United States today. This could put more pressure on the oil markets, and therefore this market should continue to go higher as the Canadian dollar is highly influenced by now particular market. We still have a target of 1.35 above given enough time.