The USD/CAD pair rose during the course of the session on Tuesday, but found enough in the way of resistance above to pull back down and form a shooting star. The shooting star signifies that the market will probably continue to fall from here, but there is a significant amount of support below at the 1.08 handle. It is not until we clear that area to the downside that we can start selling, aiming for the 1.06 handle. On the other hand, if we break the top of the range from the Monday session, we would be confident enough to start buying again and aim for the 1.0950 level.
