USD/CAD Forecast April 24, 2014, Technical Analysis

The USD/CAD pair tried to rally during the session on Wednesday, but as you can see fell a little bit flat. We are in a consolidation area, so it doesn’t surprise us that the market struggles a little bit. But that being the case, we feel that ultimately this market does go higher. A break above the 1.1060 level, and we start buying and figure that the markets going to the 1.1250 level, and possibly even 1.15 if you give this market enough time. As far selling is concerned, we have no interest in going so at the moment.