USD/CAD Forecast November 15, 2016, Technical Analysis

The USD/CAD pair continues to grind higher as oil markets falter. Now that we are above the 1.35 level, the market will then more than likely reach towards the 1.40 handle, perhaps even higher than that. Short-term pullbacks offer buying opportunities, as we continue to see the US dollar strengthen against just about anything out there. The 1.35 level should be a bit of a support area, just as the actual “floor” is probably closer to the 1.34 handle below. I have no interest in selling this market at this point as we’ve seen such a surge higher.

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