USD/CAD Forecast July 14, 2016, Technical Analysis

The USD/CAD pair fell slightly during the course of the session on Wednesday, slicing through the 1.3 handle. Now that we have done that, we should see plenty of support just below, so therefore supportive candle is reason enough to go long. Ultimately, looks like we are essentially grinding back and forth so having said that I think that we are not ready to make any significant move at this point in time. However, it does seem like the buyers are returning again and again, so if we can break above the 1.32 level, it becomes a little bit more easy of a move to go long. Beyond that, I don’t have a trade set up.

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