The USD/CAD pair fell on Tuesday as the 1.02 level gave way. The breaking of the bottom of Monday’s shooting star signaled to the markets that this pair is going to want to continue to fall. The 1.0150 area looks to be the bottom of support, and it does in fact look like we are about to fall to parity. However, the shooting star can still give us a signal as well. If we break above the top of the shooting star, this would be a strong buy signal as well. In the mean time though – it looks as if this pair is going to pullback further.
Written by FX Empire