USDCAD: Follows Through Higher, Aims At The 1.0600/50 Levels
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USDCAD: With USDCAD following through higher on the back of its last week gains, it looks to strengthen further towards the 1.0600 level. A cut through here will open the door for more upside towards the 1.0650 level with a loss of here turning focus to the 1.0700 level. Its daily RSI is bullish and pointing higher supporting this view. On the downside, initial support comes in at the 1.0555 level where a violation will aim at the 1.0420 level. A reversal of roles is expected to occur here and turn it higher. But if that level is taken out, look for a move lower towards the 1.0350 level and then the 1.0250 level. All in all, USDCAD remains on the offensive as it looks to extend its bullishness