The USD/CAD pair had initially fallen in the wee hours of Friday before bouncing after the Non-Farm Payroll announcement. The markets produced a hammer for the session, and it currently sits on the 1.01 level – the start of the massive parity support area. The pair looks ready to bounce, and we would be willing to buy on a break of the highs form Friday. The selling of this pair will be difficult until after the 0.99 level is broken to the downside.
Written by FX Empire