USDCAD’s upside movement from 1.2803 extended to as high as 1.3110. Further rise is still possible and next target would be at 1.3200 area. Near term support is at 1.3050, as long as this level holds, the uptrend will continue. On the downside, a breakdown below 1.3050 would indicate that consolidation for the uptrend is underway, then deeper decline towards 1.3000 could be seen.
