USD/CAD Forecast March 13, 2017, Technical Analysis

The USD/CAD pair fell initially during the day on Friday, but you can see found plenty of support just above the 1.34 level, sending the market back towards the 1.35 handle. Given enough time, I think that this market is going to break out, and longer-term I think that once we break above the 1.36 handle, the market then reaches towards the 1.45 level. In the meantime, short-term pullbacks continue to offer buying opportunities, but you must deal with the fact that there is going to be a lot of volatility. Oil markets look horrible, and that of course will continue to push this market higher over the longer term.

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