USD/CAD Forecast September 30, 2014, Technical Analysis

The USD/CAD pair fell during the course of the day on Monday, but found enough support near the 1.1150 region to bounce from there to form a hammer. The hammer of course suggests that the market could be going higher from here, and the 1.120 level should still be targeted. With that, we feel that the market should continue to go higher, and we look at pullbacks on short-term charts as potential buying opportunities. We have no interest in selling this market right now, as the US dollar continues to be the favored currency.