USD/CAD Forecast August 30, 2016, Technical Analysis

The USD/CAD pair rallied during the course of the day on Monday, as we are clearly well above the 1.30 level now. It appears that the market is going to try to continue to go higher, and with that being the case I believe that the oil markets will continue to drive this particular currency pair as well. If oil falls, this pair should continue to go higher and perhaps reach towards the 1.32 handle. Ultimately, I have no interest in selling at this point in time as it shows far too much in support below.

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