USD/CAD Forecast October 22, 2014, Technical Analysis

USD/CAD fell during the course of the session on Tuesday, testing the 1.12 level. This is an area that is an area we anticipated to see a significant amount of support at, and we most certainly did see that. We bounce slightly, but we believe that there is a significant amount of support all the way down to the 1.11 handle. Because of that, we think that the uptrend is still in a fact, and have absolutely no interest in selling. We believe that the 1.14 level will be targeted, and then possibly the 1.15 level.