USD/CAD Forecast July 20, 2016, Technical Analysis

The USD/CAD pair broke higher during the course of the day on Tuesday, breaking above the 1.30 level. Because of this, looks as if the market is ready to continue grinding higher, but it is going to take quite a bit of volatility and more importantly wherewithal to hang onto the trade to finally break out. Once we get above the 1.1350 level, the market should continue to go much higher. A pullback from here more than likely offers buying opportunities on signs of support as well, as oil markets continue to struggle and therefore way upon the Canadian dollar itself.

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