On Monday, the USD/CAD returned to trade at the 1.2938 level, which is the previous December high level.
A move higher could find resistance in the weekly R1 simple pivot point at 1.2991. Above the pivot point, the 1.3000 mark might stop a surge.
On the other hand, a decline of the USD against the CAD might look for support in the combination of the weekly simple pivot point at 1.2849, the 50-hour simple moving average near 1.2835 and the previous high level zone at 1.2835/1.2853.
