USD/CAD Forecast July 18, 2016, Technical Analysis

The USD/CAD pair went back and forth during the course of the day, but settled on a slightly positive candle. The 1.30 level is essentially the fulcrum for the back-and-forth trading that we have seen recently. With this, I believe that we will continue to go a little higher, but it will be choppy. The 1.32 level being broken to the upside would be a massively bullish signal. Regardless, volatility will be the mainstay of this particular market. There has been quite a bit of a noisy reactions in the oil markets, and that of course will continue to make this market very noisy.

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