USDCAD extended its upside movement from 1.2623 to as high as 1.2892. Near term support is at 1.2804. As long as the price is above this level, the upside movement could be expected to continue and further rise to test 1.2916 resistance is possible. On the downside, a breakdown below 1.2804 support will indicate that the upside movement is complete, then another fall towards 1.2623 support could be seen.
