Moves to new November highs
The USDCAD is not done with the rally yet. The pair just reached above the November 20 and 21 highs at 1.3317. The pair is trading at 1.3326. Crude oil is trading lower now (down -$0.80) or -1.53% at $50.85
The next target is the high for the year from June at 1.33851.
PS the trend line on the downside has been a nice guide for the bulls over the last few months.
Looking at the 4 hour chart below, the pair targets the 1.33599 topside trend line. That would be an interim target ahead of the high for the year at 1.3385.is