The USD/CAD pair fell during the course of the session on Wednesday, testing the 1.0850 level. With that, the market looks as if it is going to try to find support down at the 1.08 handle, which we see as very supportive. A supportive candle down there would be a nice buying opportunity as we keep making a series of “higher highs”, and as a result we are standing on the sidelines at the moment. However, we believe that ultimately this market will bounce high enough to reach the 1.10 level after finding support.
