The bullish signs noted in EUR/CAD earlier this week paved the way for USD/CAD to break through month-long range highs near1.0450. The risk is for further gains in these pairs and for USD/CAD to revisit its highs from 2013. Both WTI crude pulling back and US 10yr yields selling off towards 3% are likely to provide catalysts for the move while monthly charts also favour CAD weakness.
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