USDCAD: With a third week of bullishness occurring the past week, the risk of an eventual return to the 1.0392 level is expected on ending its consolidation. A break and hold above here will create scope for a run at the 1.0450 level. Further out, resistance resides at the 1.0500 level where a breach will pave the way for a run at the 1.0550. Its daily and weekly RSI has turned higher suggesting further upside. Conversely on any pull back, support lies at the 1.0300 level initially with a cut through here setting the stage for a run at the 1.0218 level. A reversal of roles as support is likely to occur here and turn it higher. Further down, support comes in at the 1.0129 level with a turn below here aiming at 1.0089 level. All in all, USDCAD remains biased to the u[side medium term and looks to recapture the 1.0392 level.
