Yet another new rebound high Tuesday and again already Wednesday to extend the robust rebound late last week, once more from ahead of key 1.2361/52 support factors.
The push this week above 1.2665/98 peak leaves the March bullish theme intact to aim for further resistance targets.
- We see an upside bias for 1.2775 and maybe the January cycle peak at 1.2800.
- But below 1.2645 targets 1.2597/72 area, which we would look to try to hold.
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4 Hour USDCAD Chart