The next key level in USD/CAD – technical analysis

USD/CAD has climbed through 1.0775 and is at the highest since 2010. A key resistance zone on the chart is 1.0800 to 1.0804. The psychological marker is followed by the 38.2% retracement of the the 2009-2011 decline at 1.0804.

USDCAD daily chart Jan 7

USD/CAD daily

Those are followed by the May 2010 high of 1.0853. The important thing in the short-run is that the 1.0550/1.0750 range has broken.

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