The USD/CAD pair went back and forth during the course of the session on Tuesday, as we continue to meander just below the 1.40 level. We believe that a break above this level is a significant move though, it would not hesitate to start buying. We also recognize that a pullback from here is possible, as we are bit overextended but there is more than enough support below to keep this market afloat and we would be buyers of those supportive candles below as long as we can stay above the 1.35 level, which we see as the absolute “floor” in this market at the moment.
