USD/CAD Forecast March 20, 2015, Technical Analysis

The USD/CAD pair rose during the session on Thursday, as we have all but wiped out the losses from the Wednesday session. On top of that, the oil markets have fallen apart, so that of course puts more pressure on the Canadian dollar, and therefore it looks as if we are going to break out to fresh, new highs and head towards the 1.30 level still. Pullbacks at this point in time should continue to find plenty of support all the way down to the 1.24 level, and as a result we are bullish of this pair.