USD/CAD Forecast October 3, 2016, Technical Analysis

The USD/CAD pair went back and forth during the course of the day on Friday, but ultimately settled on a slightly negative candle. I believe at this point in time we are going to continue to bounce around in the consolidation area that has been very influential over the last couple of weeks. With this, I believe that the 1.32 level above continues to be resistance, and extends all the way to the 1.3250 level above. A lot of support should be found here and the 1.30 handle below, so bouncing around is what I believe we’re going to see.

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