The USD/CAD pair fell during the course of the session on Wednesday, but as you can see is still within the consolidation area that we have seen for some time. Today is the FOMC Statement, and that of course will have a massive influence on the US dollar. Nonetheless, at this point in time we are only looking to start buying the US dollar as long as we can stay above the 1.30 level. A supportive candle is reason enough to go long, and obviously a break out to the upside would be as well. Ultimately, this market breaking above the 1.33 level then sends it looking for the 1.35 handle.
