USD/CAD Forecast December 30, 2016, Technical Analysis

USD/CAD daily chart, December 30, 2016

The USD/CAD pair fell on Thursday, testing the 1.35 handle. This is an area that previously has been resistive, so it should now be supported. I think at this point it’s only a matter of time before the buyers return, sending this market higher. I am bullish of this market longer term, and am looking at pullbacks as an opportunity to pick up value in a market that has been very bullish as of late, and should continue to be. After all, the Canadian economy has produced some soft numbers as of late.

Written by FX Empire