USD/CAD Forecast May 19, 2014, Technical Analysis

The USD/CAD pair initially tried to rally during the session on Friday, but as you can see we fell to the 1.0850 level. With that, we feel that this market will more than likely find buyers down in this area, but ultimately the market should find buyers down in this general vicinity, and with that we feel that the market is at an inflection point. We have to admit though, if we fall from here, things get ugly and we had to the 1.07 level, and then the 1.06 level. Buying really isn’t a thought quite yet.