USD/CAD Forecast March 3, 2014, Technical Analysis

The USD/CAD pair fell during the session on Friday, but found enough support at the 1.1050 level in order to bounce slightly. Nonetheless, the market seems as if it is consolidating in this general vicinity, but we don’t really have a buy signal at this moment in time. The 1.10 level below begins pretty significant support, so we would love to see a supportive candle in that general vicinity, or on the other hand, if we can break above the 1.12 level we feel that this market could go quite a bit higher.