The USD/CAD pair went back and forth during the course of the day on Thursday, as we slowed down and what has been a very strong uptrend. At this point, we think this pair could pull back, but that would be an excellent buying opportunity as far as we can see, as the trend has been so strong and of course the oil markets have been working so feverishly against the value the Canadian dollar in general. That being the case, the market should continue to favor buying on dips, and we believe that the 1.40 level below should be a bit of a floor.
