The USD/CAD pair initially tried to rally during the course of the day on Thursday, but ran into quite a bit of trouble at the 1.1350 level. With that being the case, the market ended up turning back around and forming a massive shooting star. That shooting star courses negative, but we have a significant amount of support in the form of the 1.12 handle. Because of this, we feel that this market is probably going to break down a little bit here, but we expect to see plenty of buying opportunities between here and 1.11 or so.
