USD/CAD Forecast March 17, 2014, Technical Analysis

The USD/CAD pair rose slightly during the session on Friday, but quite frankly didn’t impress one way or the other. This market looks like it still stuck in consolidation, as we continue to hover around the 1.11 level. Going forward, we expect to see this market break out to the upside, but he can go sideways for quite some time. A break above the 1.12 level is enough for us to start buying though, as we think the market would then head to the 1.15 handle. Selling at this point in time is not something we are interested in, and think that when the market selloff, they will start buying at lower levels.