USD/CAD Forecast October 6, 2016, Technical Analysis

The USD/CAD pair initially rallied during the course of the session on Wednesday, but turned around and found the 1.32 level be far too resistive. By doing so, we did up forming a negative candle, and if we break down below the bottom of that I feel that the market will probably try to reach to the 1.31 handle below. On the other hand, we can break above the top of the candle, I feel that the buyers will come in and continue to pushes market much higher. Ultimately, this is a market that seems to be very choppy.

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