The USD/CAD pair broke higher during the session on Thursday, closing well above the 1.04 handle. This is the signal that we’ve been looking for, and as a result we are willing to buy this pair now on a break of the highs from the Thursday session. We believe that opens the door to the 1.05 handle, where we would expect to see some significant resistance. Ultimately though, we believe that this breakout Wilson this pair much higher, but it is going to be a bit of a fight to get up there. Pullbacks should continue to offer buying opportunities on short term charts.
Written by FX Empire