The USD/CAD pair fell during the session on Friday, searching for the 1.0150 level. When they got there, it found enough support to stop falling, but it does look like a pair that’s going to grind a bit at this point. There is a significant amount of support below, going all the way down to the 1.01 handle, and we expect the sellers to be abated somewhere in this general vicinity. However, we do not have a supportive candle yet to make a decision to start buying, so we are simply sitting on our hands until that happens. A move below the 1.01 handle on a daily close would be enough to get us to start selling though.
Written by FX Empire