Forex: USD/CAD breaks above 1.0275 to trade at 8-month highs

Following a 30 pips upside movement from 1.0250, the USD/CAD has finally broken above the 1.0275 key resistance to reach levels not seen since June 2012 at 1.0290. Currently the pair is trading at 1.0290, 0.25% above opening price action.

The USD/CAD's trend is bullish with the MACD, CCI and Momentum indicators pointing higher on the 15-minutes and 1-hour charts. While Stochastic is negative in the 15 minutes timeframe. Next resistances are at 1.0300 (Uptrend dinamic resistance) and the 1.0360 (june 2012 high). On the down side, 1.0275, 1.0250 and 1.0240.