The USD/CAD pair rose during the course of the day on Wednesday, bouncing off the 1.11 level. This of course is a very positive sign, as the market continues to find support every time it falls. With the Canadian Employment numbers coming out later today, this market could get a little bit more direction based upon an announcement. Because of this, we look at a potential knee-jerk reaction to the downside as value in the US dollar, just as a move higher based upon an announcement would only confirm what we believe to be true: that this pair will continue to go higher over the longer term.
