The USD/CAD pair went back and forth during the course of the session on Monday, ultimately forming a little bit of a shooting star. The shooting star of course suggests that we are going to fall from here. However, the 1.32 level below is supportive, and as a result any type of supportive candle below is reason enough for us to start buying again. On the other hand, we break above the top of the shooting star, we would be buyers as well. The oil markets don’t have enough support to help the Canadian dollar at the moment.
