The USD/CAD pair had a very strong session during the day on Wednesday, and one point in time even managed to challenge the 1.06 handle. This handle still offers a bit of resistance at the end of the day though, but in reality we believe it’s only a matter time before he gets broken above. A significant break above there since his market looking for the 1.10 handle, and gives the market plenty of room to continue higher. In fact, we see almost nothing stopping a move to the 1.10 area in the short term.
Written by FX Empire