USD/CAD Forecast March 12, 2015, technical analysis

The USD/CAD pair broke out to the upside during the session on Wednesday, testing the 1.28 handle. We have had our target of 1.30 in place for some time now, and we still believe the pullbacks will help get us the momentum to get to that level. We believe that level is going to be very difficult to break above, but ultimately it will get smashed. Going forward, we only buy this pair and we look at pullbacks as offering value in the world’s most favored currency, the US dollar. We have no scenario in which we start selling yet.