Technical analysis:
USD/CAD has been trading upside this morning and I see potential for the bigger rally due to the breakout of the 3-week long consolidation in the background.
Trading recommendation:
Due to the breakout of the consolidation in the background and today's retest of the support at the price of 1,2775, I see potential for the upside continuation.
Watch for buying opportunities on the intraday pullbacks with the upside objectives at 1,2875 and 1,2950.
Additionally, there is the rising trend-line in the background, which is holding very well.
