USD/CAD Forecast April 3, 2017, Technical Analysis

The USD/CAD pair initially tried to rally during the day but turned around and broke towards the 1.33 level underneath. The oil markets continue to show signs of strength, and that makes quite a bit of sense as we get above the $50 handle in that market. If the oil markets continue to strengthen, I think we will break down below this area and then reach towards the 1.3150 level underneath. Alternately, if we form a supportive candle we could reach towards the 1.34 handle, coinciding with oil selling off if it happens. - 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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