USD/CAD Forecast April 14, 2014, Technical Analysis

The USD/CAD pair rose during the session on Friday again, and as it appears the market looks as if it is trying to break out above that area, but if we can get above there we believe that the market and continues to go higher. Although the daily chart doesn’t look that exciting, the truth is that the weekly chart did in fact form a nice-looking hammer. With that, we are very bullish once we get above the 1.10 level. At that point time, we would believe the market heads to the 1.12 level given enough time.