USDCAD moves sideways in a range between 1.2356 and 1.2672. Rise to test 1.2672 resistance is now in favor. A break above this level will indicate that the short term uptrend from 1.2024 (Jan 28 low) is underway, and the next target would be at 1.2800-900 area. Key support is at 1.2356, below this level will suggest that the uptrend from 1.2024 has completed and the following downtrend will take price back to 1.1900 area.
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