Trading at new highs. Targeting yesterday's highs?
The USDCAD is trading higher with the overall dollar strength. The pair just reached new session highs at 1.2875.
Technically, the pair has gotten strength from bouncing off a key support area defined by swing lows from Tuesday, the 200 bar MA on the 4-hour chart at 1.2916 and the 100 hour MA at 1.29196. That combination (see yellow area) was a key support and the low stayed just above them (low reached 1.2820).
The high from yesterday at 1.28966 is the next target.
