USD/CAD Forecast February 12, 2014, Technical Analysis

The USD/CAD pair fell during the session on Tuesday, but remained respectful of the 1.10 level as support. With that, we feel that supportive candles in this general vicinity should be buying opportunities, and as a result we feel that this market will fire off a buy signal soon. We see support all the way down to the 1.0850 handle, so any type of supportive candle between here and there is good enough for us to start buying again. Also, a break above the highs from the session on Tuesday serves as a buying opportunity as well.