USD/CAD Forecast April 28, 2017, Technical Analysis

The US dollar has been very volatile against the Canadian dollar during the Thursday session. Initially rallying due to the idea that the US could be leaving the NAFTA agreement, but then turning right back around as President Trump suggested that it wasn’t going to happen right away. Ultimately, oil started falling, and that put more of a bullish move in the market. Currently, when I look at this chart I recognize that we have broken above a psychologically important level, and because of that I remain bullish. I recognize that is going to be very choppy, but I do think we go higher.