USD/CAD Forecast January 26, 2017, Technical Analysis

The US dollar fell again against the Canadian dollar, and it now looks as if we’re going to go looking for the 1.30 level below. That is an area that has a significant amount of support attached to it, so I believe that the market will find the buyers in that area. As soon as we get a bounce, I’m willing to go long. Alternately, if we break down below there and close below there on a daily chart, I feel that the market continues to go much lower. Pay attention oil, it always has an influence.