Latest forecasts for USD/CAD by National Bank of Canada

National Bank of Canada made a long-term forecast for USD/CAD up to Q1'17. It was stated the the price will be bounced from 1.35 resistance area back to 1.27/1.29 levels by the way of the secondary correction within the primary bullish market condition.

Instrument	Q1'16	Q2'16	Q3'16	Q4'16	Q1'17
USD/CAD	1.350	1.300	1.280	1.270	1.290

As we see from the chart above - the price is on bullish breakout with 1.3456 resistance level to be broken by the price from below to above for the bullish breakout to be continuing. R3 Pivot level at 1.3352 was broken as well with the good bullish breakout.

Thus, National Bank of Canada considers for the price to be bounced from 1.35 resistanc area for the secondary correction with R3 Pivot at 1.3352 to be crossed from above to below for R2 Pivot at 1.2568 as the next target in this case. The price will be ranging within 3 Pivot at 1.3352 and R2 Pivot at 1.2568 up to Q1 2017 for example.