USD/CAD Forecast February 21, 2014, Technical Analysis

The USD/CAD pair rose during the session on Thursday, albeit slightly. The market continues to try and break above the 1.11 handle, and of course the large round number will cause a little bit of a reaction. At the end of the day however, we feel that pullbacks at this point time should be buying opportunities as this market looks primed to go to the 1.12 handle. It will be a bit of a bumpy ride higher, but ultimately we do think this is what happens, and with that we are very bullish.