The USD/CAD pair fell hard during the course of the day on Wednesday, breaking below the 1.09 handle, and even below the 1.0850 level during the day. With this, it looks like the market is ready to go looking for support at lower levels, which is what we had anticipated seeing. With that, we are looking for a supportive candle in order to start buying, at least as long as we are above the uptrend line that is attached to this chart. Until we break below there, we cannot short this market but do recognize that the 1.10 level is massively resistant.
