USD/CAD Forecast April 27, 2017, Technical Analysis

The USD/CAD pair initially tried to rally during the session but continues to find the 1.36 level to be far too resistive. Because of this, looks like we are to pull back a little bit as oil markets rallied. I think the 1.35 level underneath will be supportive, so I would look for buying opportunities in that general vicinity. Alternately, if we can break above the recent high, that should send the market to more of a “buy-and-hold” type of attitude. I have no interest in shorting, this is a market that should continue to go higher.

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