USD/CAD: With USD/CAD holding on its broader uptrend, it now requires a break and hold above the 1.0736 level. A cut through here will pave the way for a run at the 1.0800 level where a violation will turn attention to the 1.0850 level and then the 1.0900 level. Its daily RSI is bullish and pointing higher suggesting further upside.
Conversely, support lies at the 1.0650 level where a breach will set the stage for a push further lower towards the 1.0600 level and then the 1.0549 level.
A reversal of roles as support is likely to occur and turn the pair higher but if that fails, expect a move towards the 1.0413 level with a break targeting the 1.0350 level.
All in all, USDCAD continues to face further upside threats medium term
Guest post by FX Tech Strategy
