The USD/CAD pair fell during the course of the session on Friday, breaking below the 1.25 handle. With that, we tested the 1.24 level which we believe is massively supportive. Ultimately, will have to see what happens in that general vicinity, we feel it’s only a matter of time before the buyers will step back in. This is a marketplace that has been consolidating between the 1.24 handle and the 1.28 handle for some time, and with this we believe that the easiest play is to simply buying down here at the bottom if we get the opportunity.
