USD/CAD attacks resistance at 1.0760

Being that recently USD/CAD has confirmed the 21-month up-trend support line, there is a good chance the nearby resistances are not going to hold the pair down for long. For the time being the monthly pivot point, in conjunction with the five month down-trend, manages to keep the bulls at bay, but a majority of the monthly indicators is pointing North. If both 1.0760 and 1.09 are broken, this year's high at 1.1278 will most likely become the next target.

It appears that a substantial portion of the SWFX market participants is strongly convinced in the U.S. Dollar having unrealised bullish potential, since 73% of open positions are long. At the same time 60% of orders are set to purchase the Buck.