The USD/CAD pair went back and forth during the day on Monday, essentially settling nothing by the time we closed. The 1.07 level is where we find the market being comfortable now, and as a result we think that is probably going to take a bit of an impulsive move to get above the 1.08 handle, an area that has been resistive recently. If we can get above there, we feel that the market should continue to the top of the recent consolidation area, aiming for the 1.10 handle. We have no interest in selling at this point.
