The USD/CAD pair initially fell during the day on Tuesday, but found enough support near the 1.33 level to form a bit of a hammer. This is a market that should have quite a bit of volatility today, because the Canadian central bank releases its interest-rate announcement and following statement. However, we have jobs numbers on Friday coming out of both America and Canada, so having said that we believe that this could be a very interesting several sessions. We still favor the upside, and we are buying pullbacks as they represent value in the greenback.
