The loonie is up to the highest since 27th March this year as we cruise through 1.11, breaking 2 day resistance a week or so ago.
1.1120 is the next level of resistance that may halt the pair short term but the ultimate target is the March highs at 1.2277.
USD/CAD Monthly chart 24 09 2014
We’re seeing dollar strength across the board now except in USD/JPY which is seeing the yen being bought here and across the crosses. Quite a strange move at the moment.
It looks like a lot of the move is being driven by the DXY which is currently taking off to the highest since 2010
