The USD/CAD is holding firmly above its broken resistance at 1.0100 level, further upside movement might be expected. However, lack of the bullish steam seems to exist this week.
This exposed 1.0260 level, where a breakthrough allowed the rally towards 1.0300 level to take place. Further 1.0350 level stands as the next possible upside target. Although, last week we got some bearish rejection around 1.0300, which was followed by multiple days of indecision within the same consolidation range.
On the other side, support is located around 1.0160 level, where a breakdown will target the 1.0100 level.
The most appropriate decision now is to stay out of the market until the technical view comes clear. However, the bearish view is more favoured as long as the topping at 1.0340 remains unbroken.
