USD/CAD Forecast February 20, 2015, Technical Analysis

USD/CAD pair broke higher during the course of the session on Thursday, as the 1.25 level continues to be a bit of a magnet for price. That being the case, the market looks as if it’s ready to continue to go higher, if we can break above the top of the range for the session. Ultimately though, we only buy this pair, because the US dollar of course is the strongest currency in the Forex world right now. On top of that, the crude oil markets certainly are not helping the Canadian dollar at this point in time.