The USD/CAD pair fell during the session on Monday, slamming into the 1.0850 level, from which it started on Friday. That being the case, it appears of this market could continue to fall from here, but we expect to see significant support right around the 1.0750 level. That was where the market broke out of the previous consolidation, and as it was so resistive it should now be supportive. If that’s going to be the case, we would love to buy some type of supportive candle down there, but we have to wait to see any type of supportive candle between here and there to start buying.
Written by FX Empire