The USD/CAD pair initially tried to rally during the course of the session on Thursday, but turned back around just below the 1.42 level. That of course is a round number, and that of course will attract some attention. Having said that though, we ended up forming a fairly negative candle and that tells us that the market isn’t quite ready to continue going higher yet. That’s not a surprise though, because we haven’t employment numbers coming out of both the United States and Canada today, so we think eventually the buyers will come back in and push this market higher. We are buyers on pullbacks and show signs of support, and of course a break out to a fresh, new high.
