USD/CAD Forecast July 28, 2016, Technical Analysis

The USD/CAD pair broke higher during the course of the day on Wednesday, as we continue to grind around the 1.32 level. A break above the top of the range for the last couple of days is reason enough to believe that this market will reach towards the 1.35 handle over the next several sessions. Pullbacks should continue to find support below, especially near the 1.31 level, which was previously resistive. Oil continues to fall, and that generally pushes this market higher over the longer term. Because of that, I have no interest in selling whatsoever. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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