USD/CAD Forecast March 6, 2014, Technical Analysis

The USD/CAD pair fell during the session on Wednesday, but remains above the 1.10 level still. That being the case, it appears that the market still offers buying opportunities on supportive candles all the way down to the 1.09 level. This being the case, we feel that the market should continue to go higher and stay within the consolidation area that goes all the way to the 1.12 level. Above there, the 1.12 level opens the move to 1.15 up for the buyers, which is what we ultimately believe will happen over the longer term.