USD/CAD Forecast December 14, 2016, Technical Analysis

The USD/CAD pair did very little during the day on Tuesday as we continue to hug the previous uptrend line. Oil looks a little bit soft, so we could see the market turned things back around and if we can reach above the 1.32 level I feel that the market will continue to go much higher. On the other hand, if we break down below the 1.31 handle, I feel that the market will probably reach towards the 1.30 level below. The market is most certainly in an inflection point, and we must make a decision fairly soon.