USD/CAD Forecast July 25, 2016, Technical Analysis

The USD/CAD pair broke higher during the course of the session on Friday, as we have shown quite a bit of bullish pressure and not only the US dollar, but also we have seen quite a bit of weakness in the crude oil market. This is a “double whammy” when it comes to this marketplace, and as a result I feel that as soon as we break above the 1.32 level, the market will then reach towards the next major resistance barrier in the form of the 1.35 handle. Pullbacks should offer buying opportunities on supportive candles as well.

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