USD/CAD Forecast March 27, 2014, Technical Analysis

The USD/CAD pair fell during the session on Wednesday, slamming into the 1.11 level. Nonetheless, we still believe that there is enough support below to keep this market going higher over the longer term. With that, we are looking for supportive candle to start buying again, and recognize that the support runs all the way down to the 1.09 handle. With that, we are still “buy only”, but very hesitant to put money to work right now. On the right supportive candle however, we would be buyers yet again in this market.