USD/CAD Forecast February 13, 2014, Technical Analysis

The USD/CAD pair fell during the bulk of the session on Wednesday, but as you can see bounced just a bit too close right around the 1.10 level. This suggests to us that this area is indeed going to continue being supportive, and that being the case we are willing to buy on a break of the top of the hammer like candle and has formed. Selling really isn’t a thought, and we believe that this market will head to the 1.12 level fairly soon, given just the slightest bit of momentum to the upside.