USD/CAD Forecast February 24, 2017, Technical Analysis

The USD/CAD pair fell during the day on Thursday, but found enough support near the 1.31 level, bouncing a bit. However, I think that the volatility will continue as oil markets are difficult to deal with, making sure that this pair is probably one that’s best left alone. Currently, I believe that the market continues to bounce around between the 1.30 level on the bottom, and the 1.32 level on the top. If we can break above the 1.32 level, the market should then continue to go much higher but if we break down below the 1.2960 level, the market could breakdown.