USD/CAD Forecast April 19, 2017, Technical Analysis

The USD/CAD pair broke out to the upside during the day on Tuesday, breaking the top of the hammer from Monday. We look as if we are ready to continue the consolidation, and that means that the 1.3450 level should offer a significant amount of resistance. Short-term pullbacks could calm, especially considering that today is the Crude Oil Inventories number coming out, and that has such a massive effect on the oil markets. Expect choppy back and forth type of consolidation in this pair like we have seen over the last several weeks. - The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate.

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