The USD/CAD pair fell during the session on Wednesday, staying within the consolidation area that we have seen over the last several sessions. That being the case, the 1.07 level looks to be supportive, and a break below their sends in this market looking for the 1.06 handle. That area is the beginning of massive support though, so we feel that any move lower will be short-term move at best. If we do bounce from here, we are not interested in going long until we get above the 1.08 level for a significant amount of time.
