USD/CAD forecast for the week of September 18, 2017, Technical Analysis

The USD/CAD pair had a slightly positive week, using the 1.20 region as support. However, we have broken down below a significant uptrend line and the last several weeks, and therefore I think that there is still more selling pressure to be faced. A breakdown below the 1.20 level has this market looking for the 1.15 handle, just as a bounce from here will have to deal with the previous uptrend line. I have no interest in buying this market from a longer-term perspective until we can clear the 1.25 handle above, which doesn’t look likely at the moment.

USD/CAD Video 18.9.17