The USD/CAD pair initially rose on Wednesday, but turned back around to form a negative candle. In this general vicinity, we have seen a lot of tight action, so we do not expect much in the way of motion going forward. The 1.08 level should be massively supportive, so we don’t expect this market to break down. At the end of the day though, there really isn’t much to be found in this market, and as a result we are waiting on the sidelines to see some type of impulsive move in one direction or the other.
