The USD/CAD pair rose during the session on Friday slamming back into the 1.10 resistance area. This area does look like it’s about to give way though, so we feel that a daily close above this handle is more than enough to start buying. If that happens, expect another parabolic move as his pair is known to do, and as a result keep an eye on the oil markets might be the way to go as well. Typically, if the oil markets fall apart, so does the Canadian dollar and therefore we think we could see to moves simultaneously.
