USD/CAD Forecast October 20, 2016, Technical Analysis

The USD/CAD pair broke down during the course of the session on Wednesday, but found enough support near the 1.30 level below to turn things back around and form a massive hammer. Because of this, it looks as if the US dollar will continue to find buyers going forward, but it is going to be fairly choppy market. Expect quite a bit of resistance of the 1.32 level though, but I do think that we will break above it yet again. At that point, the market looks like it would try to reach the 1.33 handle ultimately. - 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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