USDCAD continued its upside movement from 1.2623 and the rise extended to as high as 1.2879. Further rise to test 1.2916 resistance is possible in the coming days. A breakout of this level could signal resumption of the uptrend from 1.2061 (Sep 8 low), then next target would be at 1.3100 area. Near term support is at 1.2790, only a breakdown below this level will indicate that lengthier sideways movement in a range between 1.2623 and 1.2916 is needed, then another fall towards 1.2623 could be seen.
