USD/CAD Forecast May 30, 2016, Technical Analysis

The USD/CAD pair initially tried to rally during the course of the day on Friday, but turned back around as we ran into a significant amount of resistance. Ultimately though, the 200 day exponential moving average above is going to be targeted, and a break above that would signify a potential long-term set up. With this, it’s likely that the market will see a bit of volatility, but you also have to keep in mind that the oil markets will have quite a bit of influence on this pair going forward as usual.