The USD/CAD pair fell significantly during the day on Thursday, testing the 1.30 level. However, this is a huge supportive level for the market, and as a result we believe that a buying opportunity could present itself on the short-term charts. If we can break above the top of the hammer from the Wednesday session, we think that is a nice buying opportunity as the market should then go to the 1.32 level. There is quite a bit of support at the bottom of the hammer, so we break down below there we think the market would more than likely then start to drop towards the 1.2850 handle.
