USD/CAD Forecast November 10, 2014, Technical Analysis

The USD/CAD pair broke higher during the course of the session on Friday, but still remains a bit capped in this area. We believe that the 1.15 level will eventually break out and above though, and with that being the case, we look at pullbacks as potential buying opportunities in this market and obviously is very bullish. Oil markets are certainly not helping the Canadian dollar, and with that we believe that ultimately this market should continue to grind higher as the Federal Reserve continues to step away from quantitative easing, bringing up the value of the Dollar overall.