USD/CAD Forecast February 5, 2015, Technical Analysis

The USD/CAD pair broke higher during the course of the session, continuing uptrend that we’ve seen for some time. With that being the case, it looks like we are ready to go higher, and as a result we feel that the market will ultimately continue the uptrend that we have seen for recently, perhaps heading to the 1.28 handle again. Ultimately, if we can break above there we feel that the market will go to the 1.30 level, an area that has been massively resistive in the past. As far selling is concerned, we have no interest.