The USD/CAD pair shot straight up during the session on Monday, piercing the 1.09 level. With that, we feel that the market is testing the highs of the most recent consolidation area, thereby suggesting that perhaps we could breakout to the upside. With that, we believe that the market would go to the 1.10 level, and then possibly the 1.12 level after that. We are bullish of this market anyways, so we are not interested in selling. A move above the 1.0925 level is the signal that perhaps we are going to continue going higher.
