USD/CAD Forecast November 27, 2016, Technical Analysis

USD/CAD daily chart, November 29, 2016

The USD/CAD pair broke down during the session on Monday, as we continue to consolidate between the 1.34 level on the bottom, and the 1.3550 level on the top. Given enough time, I believe that the market will try to bounce but we need to see the oil markets rollover in order to help this particular currency pair. We also get the US GDP numbers for Q3 coming out today, so if we get strengthen that number, it could be reason enough to push this market higher. Ultimately, I have no interest in selling because of all of the noise below.