The USD/CAD pair initially fell during the course of the day, but ultimately break out to the upside. It looks as if we still see plenty of support below, and extending all the way to the 1.12 level. Because of that, the market should then go to the 1.14 level, and perhaps even higher as we have been targeting the 1.15 level for or some time now. We have no interest in selling, at least until we get below the 1.11 handle, something that does not look very likely at this point in time.
