Initially during the session on Friday, the USD/CAD pair tried to rally but failed. The 1.24 level continues offer significant resistance, so we believe that the market is just simply going to fall from here but will likely will find support just below. In other words, we should have more choppiness and confusion and quite frankly during the summer months that’s not a big surprise either. So, we are simply on the sidelines and not interested in trading this pair at the moment but will keep you abreast of any developments in the market when we can start putting money to work.
