USD/ CAD Forecast February 29, 2016, Technical Analysis

The USD/CAD pair did very little during the day on Friday as we said just at the 1.35 level. This is an area that should be rather supportive though, so having said that if we break down below that area we would start shorting this market. If the pay attention to the oil markets as well, and if oil starts to rally, this pair should turn back around. If we can break down below the 1.35 level, it’s likely that we will reach towards the 1.33 level given enough time as it would show significant bearish momentum.