USD/CAD Forecast March 31, 2017, Technical Analysis

The USD/CAD pair initially tried to rally on Thursday but then turned around as oil shot higher. We are testing the 1.33 level at the time of recording, but I believe that this area could be rather supportive. A supportive candle would be reason enough to go long, but if we broke down below the 1.3275 level, I feel then that the market will probably drop to the 1.3175 level under that. Longer-term, I still like this pair to the upside but I recognize that the oil markets are causing havoc currently.

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