USD/CAD Forecast July 8, 2015, Technical Analysis

The USD/CAD pair broke higher during the course of the session on Tuesday again, but gave back about half of the gains. Ultimately though, we believe that the market will continue to go higher but this could simply be a situation where we are going to pullback in order to build up enough momentum to go higher. We believe that the 1.25 level is essentially one act as massive support now, so as long as we can stay above there and we form some type of supportive candle, we are buyers of this pair.