The USD/CAD pair initially fell during the session on Monday, but as you can see bounced towards the end of the day in order to form a hammer. This hammer of course suggests bullishness, but we still have the 1.10 level above causing a bit of resistance. Because of this, we need to see a daily close above that level in order to start buying, which has is looking for the 1.12 level first, and then possibly 1.15 level. Any pullback at this point time will be considered a buying opportunity on signs of support.
