USD/CAD Forecast May 25, 2015, Technical Analysis

The USD/CAD pair broke higher during the course of the session on Friday, breaking above the top of the resistance at the 1.2250 level. With that being the case, the market looks as if it is ready go higher, but we need to get above the 1.24 level in order to feel comfortable buying. Above there, we would anticipate quite a bit of volatility, but ultimately we think that it is a positive sign. We are not interested in selling quite yet, and as a result will be very cautious but bullish.