USD/CAD rises to fresh high, nears downtrend resistance

USD/CAD up 108 pips

USD/CAD is trading at the best levels of the month, and touched 1.2462. There is a bit of minor resistance ahead with the downtrend from the recent highs at 1.2476.

I wouldn’t put too much weight on that trendline. USD/CAD has had a nice run today but the US dollar is getting a big lift from tax reform on the one side and Poloz on the other. Both are more than one-day drivers.

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