USD/CAD Forecast March 24, 2014, Technical Analysis

The USD/CAD pair fell during the session on Friday, but bounced hard enough to close above the 1.12 level. Now that we’ve done that, we feel that the market is eventually heading to the 1.15 level, although it may take a little bit of a momentum build in order to do that. Pullbacks at this point time should be buying opportunities, and we will look at them as such, just as we would look at a break above the shooting star from Thursday as a nice buying opportunity as well. Selling is not an option.