USD/CAD Forecast June 16, 2016, Technical Analysis

The USD/CAD pair rose during the day on Wednesday, crashing into the 1.29 level. At this point in time, this is a pair that can be very volatile due to the fact that we get the Crude Oil Inventories number coming out on Wednesday and of course the FOMC Statement which at the time of writing has not been released. There is a lot of noise above here though, and I believe that the 1.30 level will cause quite a bit of resistance. Ultimately, looking for an exhaustive candle might be a nice trade, but at this point in time I don’t see it. - 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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