USD/CAD Forecast December 30, 2016, Technical Analysis

The USD/CAD pair fell on Thursday, testing the 1.35 handle. This is an area that previously has been resistive, so it should now be supported. I think at this point it’s only a matter of time before the buyers return, sending this market higher. I am bullish of this market longer term, and am looking at pullbacks as an opportunity to pick up value in a market that has been very bullish as of late, and should continue to be. After all, the Canadian economy has produced some soft numbers as of late.

Economic Calendar