The USD/CAD pair initially fell during the course of the day on Tuesday, but found the 1.10 reason to be supportive again. With that, it appears that the market turned back around and form a hammer suggests that we are in fact going to continue going higher. We have a target of 1.12 before it’s all said and done, and probably higher than that but recognize that this market tends to be fairly choppy. Pullbacks will continue to offer buying opportunities, and we believe that the US dollar will continue to gain against the Canadian dollar as it does across the board.
