USD/CAD Forecast January 26, 2015, Technical Analysis

The USD/CAD pair went back and forth during the course of the session on Friday, struggling to continue going higher as the 1.25 level has offered a bit of resistance. That level needs to be broken above in order to continue going higher, or perhaps some type of pullback that show signs of support. We think that the latter of the two is more than likely to happen, so we like buying pullbacks as it should be a momentum building exercise. Ultimately, we do think that this pair breaks out above the 1.25 level, and is one that cannot be sold.