USD/CAD Forecast December 10, 2014, Technical Analysis

USD/CAD pair fell during the bulk of the session on Tuesday, but found a little bit of support at the 1.14 level to turn things back around and form a slightly supportive looking candle. Ultimately though, we feel that this market will more than likely test the 1.15 level above, which is a pretty significant barrier. We do believe that ultimately the market goes higher than that, and therefore we will only buy this pair, and not sell it. As long as the oil markets look so soft, we have no interest in buying the Canadian dollar.