The USD/CAD pair shot higher during the day on Wednesday, as the US GDP numbers came out stronger than anticipated. Now that we have broken out to the upside, we believe that short-term pullbacks will continue to be buying opportunities, and as a result we are still bullish of this market. We believe that we had to the 1.0950 handle first, and then eventually try to break out above the 1.10 level as well. Keep in mind that tomorrow is nonfarm payroll Friday, and as a result this pair might be fairly quiet today as it is very sensitive to that particular announcement.
