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USD/CAD extends upside breakout to above 1.37
The last time I covered the USD/CAD here was a week ago and back then it was struggling to force a breakout above the top of the range, defined by a previous high at 1.3524. Well, that is history of course and since that update the US dollar has pushed higher into the month end and beyond. The USD/CAD closed last night at 1.3676 and today it has reclaimed the 1.37 handle for the first time since March. The move above 1.37 today has also taken out a series of former daily and weekly highs since that March peak. The US dollar has just now lifted to a session high at 1.3726 and now there is not much in the way of it climbing closer to that March high, when it topped out back then at 1.3862. The USD/CAD is just now trading at 1.3717
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