The USD/CAD pair fell during the session on Monday, but as you can see not very far. It appears that the market is trying to find support somewhere near the 1.0550 level, and because of that we believe that this market continues higher overall, especially considering that the Canadian dollar is not benefiting from the strength and oil. That being said, we are long of this market already, and willing to buy more on a break of the highs from the Friday candle. We could not imagine selling this pair until we get below the 1.03 handle.
Written by FX Empire