The USD/CAD pair rose again during the session on Thursday, continuing the consolidation that we have seen for some time no. Because of this, we feel that this market will continue to grind sideways until the nonfarm payroll numbers come out. The nonfarm payroll numbers tend to be especially influential on this pair, and as a result we think that waiting for the daily close at the end of the Friday session is probably the way to go. We believe that the 1.04 level should be supportive in the end, and as a result we would buy a supportive candle down there as well but we also would like to see a breakout to the upside.
Written by FX Empire