We should know very soon whether or not we are completely wrong in our assessment of the USDCAD.
We’ve been bulls and waiting for a buying opportunity. We were given that opportunity as the USDCAD dropped into support from the 78.6% of .9710-1.0324 at .9841 last week; a 100 + pip move off of the low is nice but a push through .9997 would inspire confidence in the bullish count. The pair must remain above .9710 for us to remain bulls. Near term support is at .9868.
STRATEGY: Bullish, against .9710, target above 1.0324