USD/CAD Forecast December 2, 2014, Technical Analysis

The USD/CAD pair fell hard during the course of the day on Monday, testing the 1.13 level. This is an area that had been resistive previously, so we feel it is likely we will see some type of supportive action in this general vicinity. With that, we are more than willing to buy a supportive candle we down to the 1.12 level at the very least, and recognize that there is a lot in the way of support all the way down to the 1.10 level. With that, we are buying only in this market.