USDCAD: Bullish, Looks To Extend Further Upside.

USDCAD: With USDCAD holding firmly above its broken resistance at the 1.0099 level, further upside offensive is expected. This will expose the 1.0255 level where a violation will call for a run at the 1.0300 level. Further out, the 1.0350 level comes in as the next upside target. Both its daily and weekly RSI are bullish and pointing higher supporting this view. On the downside, support lies at the 1.0158 level where a breach will target the 1.0099 level. A reversal of roles is likely to occur  here and turn it higher. However, if this scenario fails to play out, further weakness could develop towards the 0.9932 level. All in all, USDCAD remains biased to the upside in the short term.

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