USD/CAD Forecast November 21, 2016, Technical Analysis

The USD/CAD pair struggled a bit during the day on Friday as we continue to meander around the 1.35 handle. Ultimately though, this is a market that has quite a bit of bullish pressure underneath, and as a result I think we will continue to go higher over the longer term. I am waiting to see some type of supportive pullback that I can start going long based upon. Also, you have to keep in mind that the oil market will continue to influence the Canadian dollar overall, and as it falls this pair should go higher.