USDCAD extended its upside movement from 1.3314 to as high as 1.3666.

Further rally is still possible after a minor consolidation and next target would be at 1.3750 area.

Near term support is at 1.3500, a breakdown below this level could trigger another fall towards 1.3300.

Editor’s Note: Equity investors/traders can use the CurrencyShares Canadian Dollar Trust (FXC, quote) ETF to take positions in the euro without a FOREX account.  The ETF looks to track the price of the Canadian Dollar (USDCAD), minus ETF fee. The fund seeks to reflect the price of the Canadian Dollar with the shares representing a cost-effective investment relative to investing in the FOREX market.

Content curiosity of FOREXCycle