USD/CAD: With USD/CAD rallying to resume its broader upside, further strength is likely in the days ahead.
Further out, resistance resides at the 1.0750 level. Above here if seen will aim at the 1.0800 level. Its daily RSI is bullish and pointing higher suggesting further upside.
On the other hand, support lies at the 1.0700 level where a violation will aim at the 1.0650 level where a violation will aim at the 1.0600 level. A reversal of roles is likely to occur here and turn USD/CAD higher but if that fails, further decline could occur towards the 1.0550 level with a break turning attention to the 1.0500 level..
All in all, USDCAD continues to face further upside threats.
Guest post by FX Tech Strategy
