The USD/CAD pair fell during the session on Tuesday, slamming into the 1.06 level, which of course acted as support. This is an area where we expect a lot of buying pressure to be had, going all the way down to the 1.05 level. We would buy supportive candles, anywhere between here and there, and as a result we are simply waiting for some type of signal to start buying. However, if we did get a daily close below the 1.05 level, we would suddenly find this market very bearish going forward.
Written by FX Empire