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.

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