USD/CAD Forecast December 31, 2014, Technical Analysis

The USD/CAD pair fell during the bulk of the session on Tuesday, but remains within the consolidation area that we have been in for some time now. With that being the case, we are buyers on supportive candles, but we don’t have one right now. Short-term charts will probably leave the way, but quite frankly we feel that the 1.15 level is much more supportive than the current area that we are on right now. Ultimately, we believe that the 1.18 level will continue to be the target over the longer term, and that is where we are aiming for.