The USD/CAD pair fell rather significantly during the session on Wednesday, and managed to close at the very lows of the daily range. However, we still see the 1.03 level as very supportive, and that this market is trying to breakout overall. With that in mind, we are going to be looking for some type of supportive candle in this general vicinity to start buying this pair yet again. As far as selling is concerned, we would have to break down below the 1.02 level to feel comfortable doing so. All things being equal, we expect to see this market eventually hit the 1.05 level, and then the one point and level.
Written by FX Empire