USD/CAD Forecast June 7, 2016, Technical Analysis

The USD/CAD pair fell significantly during the course of the day on Monday, as the 1.2850 level below is massively supportive. Pay attention to what we see next, but oil markets will have a great influence in this market. If we can break out to the upside in the oil markets, this pair will continue to go lower. Having said that, it is possible to get a bit of a bounce here but I believe at this point in time is probably more bearish pressure than bullish, especially considering that the jobs number in America looked so bad. - 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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