USD/CAD Forecast July 26, 2016, Technical Analysis

The USD/CAD pair broke higher during the course of the session here on Monday, slicing through the 1.32 level. Now that we broke above there, and the fact that the oil markets are looking soft, I believe that this market continues to go much higher. Probably reaching towards the 1.34 level, and then possibly the 1.35 level above there. A pullback at this point in time should find support below, and therefore a supportive candle is reason enough for us to go long after the dips as well. But having said that, I would also be willing to buy a break above the top of the range.

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