The USD/CAD pair initially tried to rally during the course of the session on Friday, but found the area above to be far too resistive. However, the 1.24 level above is resistance, followed by the 1.25 level so it’s really difficult to imagine buying this pair. On the other hand though, there is plenty of support just below so we find it to be far too difficult to sell as well. Ultimately, this is a market that we are going to stand on the sidelines at, as the oil markets continue to chop around and influence this market.
