USD/CAD Forecast March 26, 2014, Technical Analysis

The USD/CAD pair fell during the session on Tuesday, but as you can see we’re still above the support level at the 1.11 level. We believe that that area should bring in buyers back into the market, and as a result we should see a supportive candle for fairly soon. A supportive candle would have us buying this market, and then aiming for the 1.15 level as we had originally broke out above the 1.12 level, which was our trigger. That being the case, we are bullish of this pair, and recognize that there is a significant amount of noise and support down to the 1.09 level.