We are bullish USDCAD and look for a move above recent range highs near 1.2700 to confirm upside traction through the year-to-date peak at 1.2800. Our targets are toward 1.3065, the highs of 2009. A move above 1.3065 would signal further upside toward greater targets near 1.3465. An unexpected break below 1.2350, the recent range lows, would provide an opportunity to buy at better levels toward a cluster of technical support in the 1.2065/1.2090 area.
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