The USD/CAD pair initially fell during the session on Friday, but as you can see has bounced high enough to break above the 1.06 handle on the daily close for the first time in ages. This breakout signifies to us that the market is going higher, and we think is going to start a longer-term move to the 1.10 handle based upon longer-term charts. Because of this, we are more than willing to buy this market on a break of the highs from the Friday session, as it should show more aggressive buying entering the market.
Written by FX Empire