The USD/CAD pair fell hard during the session on Friday, smashing through the bottom of the hammer that had formed on Thursday. That turns that hammer into a bit of a “hanging man”, but in the end we see quite a bit of support at the 1.0350 handle, so it’s difficult to short in this general vicinity as their so much noise below. In fact, we are simply waiting for a positive or supportive candle in order to start buying again. Selling is not possible until we clear the 1.03 handle to the downside.
Written by FX Empire