USD/CAD Forecast April 26, 2017, Technical Analysis

The USD/CAD pair rally during the day on Tuesday, breaking above the 1.36 handle. This is a very bullish sign and now frees this market to reach much higher. If we can break above the top of the range for the session, the USD/CAD pair should now look for the 1.45 handle over the longer term. This is a major breakout, and if oil collapses, this will only expedite this move, sending this pair into overdrive. I think that the “floor” is somewhere near the 1.35 handle below. I have no interest in shorting now. - 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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