The USD/CAD pair went back and forth during the day on Monday, touching the 1.40 level again. However, that area continues to elude the bullish traders out there, so having said that it looks as if we will have to pull back and try to build up momentum in order to finally break out. We have no understand selling, and believe that any pullback at this point in time should represent value in the US dollar. As long as the oil markets continue to look very bearish, this pair should continue to go higher over the longer term.
