The USD/CAD pair extends its winning streak for the third trading day on Wednesday.
USD/CAD climbs to near 1.4075 ahead of key US data and Fed Powell’s speech. Investors should brace for volatility in the CAD as the employmnet data for November is set to release on Friday. USD/CAD holds the Ascending Trinagle breakout, suggesting more upside ahead. The Loonie pair moves higher to near 1.
The 14-week Relative Strength Index oscillates above 60.00, suggesting a strong bullish momentum. A fresh upside would appear if the asset breaks above November’s high of 1.4178. The scenario will pave the way for the April 2020 high of 1.4265 and the round-level resistance of 1.4300. On the contrary, a downside move below the October 29 low of 1.3875 will expose the asset to the October 15 high near 1.3840, followed by the round-level figure of 1.3800.
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