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  • USD/CAD is trading up for the fourth day in a row, it is currently trying to breakout above 1.3300  in order to potentially reach the 1.3350 June 21, 2017 swing high which can be the next target to the upside.  
  • USD/CAD broke out from a wedge formation on the daily chart suggesting that the bulls are in control.  
  • USD/CAD is grinding higher on Wednesday as the Loonie is trading at 11-month’s high.

USD/CAD 15-minute chart

Spot rate:                   1.3299
Relative change:        0.1%      
High:                          1.3312
Low:                           1.3266

Trend:                         Bullish

Resistance 1:            1.3312, 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 current Wednesday’s low
Support 2:                  1.3200 figure
Support 3:                  1.3155 former supply/demand level