USDCAD’s up trend extends sharply to as high as 1.2123 level. Further rally towards 1.2500 zone to reach the next cycle top on daily chart is still possible next week. However, the next cycle top is nearing, and consolidation to up trend is needed now.
For long term analysis, USDCAD is in bullish movement. Further rise towards 1.3500 to reach the next cycle top on monthly chart is possible.