USDCAD breaks above 1.2765 resistance and reaches as high as 1.2933 level. Further rise to test 1.3015 long term key resistance is expected in a couple of days. A break above this level will indicate that the uptrend from 0.9056 (Nov 7, 2007 low) has resumed and further rally could be seen to 1.3500 zone.
For long term analysis, USDCAD remains in bullish movement, and the price action from 1.3015 is treated as consolidation of long term up trend. Further rise towards 1.4000 to reach the next cycle top on monthly chart is expected.
