The USD/CAD pair broke higher initially during the session on Monday, but then turned back around in order to form a little bit of a shooting star, as the market looks like it’s ready to continue to burn and churn down here. That being the case, a supportive candle below and still above the uptrend line would more than likely send this market higher. Also, if we break above the top of the shooting star, this market should head to the 1.08 level. On a move above there, we believe that the market would then target the 1.09 handle.
