USD/CAD Forecast February 26, 2014, Technical Analysis

The USD/CAD pair rose during the session on Tuesday, taking back some of the losses from the Monday session. We still believe that this market goes higher ultimately, but we do not have the right supportive looking candle in order to start buying quite yet. Nonetheless, we believe that the market should aim for the 1.12 level given enough time, and that it should have plenty of support all the way down to the 1.09 handle. With that, we are looking for some type of supportive candle in order to start buying, or a break out to the upside.