FXStreet notes that the Canadian dollar is the second best-performing currency of 2021 so far. Rabobank’s 1-3 month USD/CAD forecast remains at 1.26-1.27 but the risk in the coming weeks is skewed to the upside with USD/CAD likely to trade above the 1.27 handle in the next two weeks.s

“We expect that price action in the next two weeks is likely to see USD/CAD primarily trade with a 1.27 handle.” 

“On the upside, key resistance comes in at 1.2750 ahead of 1.2840. We do not expect the pair to break 1.2880 in the next two weeks.”