The USD/CAD pair initially tried to rally during the day on Monday, but as you can see fell back down towards the 1.08 handle. The level course has been supportive in the past, and now that we are broken above it, technical analysis dictates that we need to try to see whether or not there is actual support there. At this point in time, it looks like they’re probably should be, so a supportive candle would be enough to start buying again, and of course a break above the range the session on Monday is a buying opportunity as well.
