With a sharp rally pushing USDCAD through its key resistance at the 1.0008/27 levels to resume its short term uptrend started from the 0.9402 level, further bullish offensive is expected in the days ahead. USDCAD has been trapped within its consolidation range (1.0027 and 0.9724) since early Aug'2011 and the present break out of that range suggests a push higher is likely towards the 1.0207 level, its Dec 20'2011 high. Above here if tested and taken out will call for more strength towards the 1.0285 level, kits Nov 30'2011 high with a break paving the way for a run at the 1.0372 level, its Oct 19'2010 high. Alternatively, on any pullback from its current price levels, its broken resistance at the 1.0008/27 levels should reverse roles and provide support thus turning the pair back up. However, if a break below this level occurs, further declines will follow towards its Sept 21'2011 low at 0.9915 followed the 0.9779 level and subsequently the 0.9724 level, its Aug 31'2011 low. All in all, the pair has resumed its short term uptrend and now looks to target further upside gains possibly towards the 1.0207 level and beyond.