USD/CAD Forecast January 21, 2015, Technical Analysis

The USD/CAD pair fell initially during the day on Wednesday, but found enough support at the 1.45 level to turn things around and form a hammer. We had a Bank of Canada interest-rate announcement and policy statement during the day, and as a result there was quite a bit of volatility. However, the uptrend continues, and therefore we are buyers only. Ultimately, the market should continue to find buyers every time it pulls back. Remember, oil markets continue to suffer, and therefore the Canadian dollar will as well. At this point, our target is 1.50 or so. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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