The USD/CAD pair fell during the day on Thursday, as the markets continue to show quite a bit of volatility. However, we have seen quite a bit of support just below, so we feel it’s only a matter time before this market goes higher. We are looking for short-term supportive candles in order to start buying, and recognize that the essential “floor” in this market is somewhere near the 1.30 level at the moment. We believe ultimately this market will reach towards the 1.34 handle on any type of bounce or supportive candle that forms in this general vicinity.
