USD/CAD Forecast March 31, 2014, Technical Analysis

The USD/CAD pair fell during the bulk of the session on Friday, but found enough support at the 1.10 level to turn things back around and form a little bit of a hammer. This suggests that we are in fact going to bounce are here and head back towards the top of the consolidation area, so on a break of the top the hammer we are willing to buy this market. Granted, it might not necessarily be the easiest move, but at the end of the day we believe that the longer-term consolidation should continue to hold the market in place.