The USD/CAD pair had a slightly positive session on Friday, as we continue to walk along the uptrend line that has been so influential in this market lately. As long as we are above the 1.06 level, we are “buy only”, and as a result would buy a break above the 1.07 level as it shows significant strength. If we didn’t manage to break down below the 1.06 level, we think that the market would head to the 1.05 level next, and then possibly parity at that point in time as this uptrend line has been so significant.
