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  • USD/CAD is grinding higher for sixth consecutive day. Bulls have almost reach the 1.3350 June 21, 2017 swing high.  
  • Although the trend is bullish it is reasonable to expect some profit-taking near 1.3350. If the level is breached to the upside the next bull’s target should become the 1.3543 June 9, 2017 swing high.
  • If USD/CAD fails to beak above  1.3350 a rotation towards the 1.3200 figure can be on the cards.

USD/CAD 15-minute chart

Spot rate:                   1.3323
Relative change:        0.09%      
High:                          1.3337
Low:                           1.3283

Trend:                         Bullish

Resistance 1:            1.3337, current weekly high
Resistance 2:            1.3350 June 21, 2017 swing high
Resistance 3:            1.3543 June 9, 2017 swing high

Support 1:                 1.3266  Wednesday’s low
Support 2:                 1.3200 figure
Support 3:                 1.3155 former supply/demand level