The USD/CAD pair initially fell during the session on Wednesday, but found enough support at the 1.07 level to turn things back around and form a hammer. That hammer of course suggests that the market is ready to go higher, and as a result we will more than likely try to break above the 1.08 level again. If we can get above there, the market should head to the 1.10 level given enough time, and then ultimately the 1.12 level. As far shorting is concerned, we have absolutely no interest in doing so as there is a massive uptrend line just below.
