USD/CAD Forecast August 9, 2016, Technical Analysis

The USD/CAD pair fell slightly during the course of the session on Monday, but as you can see did find a little bit of support just below. Ultimately, this is a market that should find buyers getting involved in this market again, because the oil markets have been soft for some time. With this being the case, the market should continue to be one that’s bullish, but given enough time we will see quite a bit of exhaustion from time to time. Ultimately, this is a market that should continue to respect the uptrend line below.

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