The USD/CAD pair initially tried to rally during the session on Friday, but found the 1.09 level to be far too resistive. That being the case, the market did in fact fall to the 1.0850 area, but stayed there by the end of the day. With that, we feel that the market could break down a little bit here, and a fresh new low would have is looking at the 1.06 handle before it was all said and done. A supportive candle between here and there would of course have as buying as well.
