The USDCAD pair extends bull-leg from 1.2742 (22 May low), trading in green for the sixth consecutive day and establishes above psychological 1.30 barrier, which was cracked on Monday but bulls failed to close above. Strong bullish momentum and multiple bull-crosses of daily MA’s maintain bullish sentiment which requires close above 1.30 level (where the pair last traded two months ago) for extension towards key barriers at 1.3124/31 (2018 high posted on 19 Mar/Fibo 61.8% of 1.3793/1.2061 descend respectively). Broken top of thickening weekly cloud (1.2927) marks solid support which is expected to limit extended downticks.
Res: 1.3046; 1.3076; 1.3100; 1.3131
Sup: 1.3000; 1.2968; 1.2924; 1.2896
