The USD/CAD pair rallied during the session on Tuesday, breaking above the 1.03 level yet again. However, the level offers enough resistance that the market is struggling with the area. The resulting candle for the Tuesday session is a wicked looking shooting star, and as a result a pullback could be coming again. We believe that this market will more than likely break through the 1.03 level eventually, but the reality is that is going need a little something extra in order to do so. On a daily close above that level, we would be long of this market. Beyond that, we do not see a signal forming at this point.
Written by FX Empire