USD/CAD Forecast April 4, 2014, Technical Analysis

The USD/CAD pair fell during a majority the session on Thursday, but as you can see bounced off of the 1.10 level yet again in order to prove it to be very supportive. We feel that the support runs all the way down to the 1.09 level, and that the market will continue to find support in that general vicinity. Because of this, we actually believe that this market will more than likely go higher, but we recognize that the nonfarm payroll number can make this market very volatile. With that, we are bullish, but would wait until we clear the highs from previous sessions this week.