USD/CAD Forecast August 21, 2015, Technical Analysis

The USD/CAD pair initially tried to rally during the course of the session on Thursday, but found the 1.32 level above to be far too resistive to continue going higher. By doing so, we ended up pulling back in forming a shooting star. This of course is a very negative sign, but quite frankly there is enough support between the 1.30 level, and the 1.28 handle below to turn the market back around if we get some type of supportive candle in that general vicinity, we would be buyers. We would also be buyers above the 1.32 handle as well.