USD/CAD tested the 1.33 area yesterday but is trading through the mid-1.34 area today. The pair could exnted its race higher to the 1.3515/20 region, economists at Scotiabank report.

CAD slips back all to easily

“The USD made quick work of pushing through minor resistance in the mid-1.33s and has extended through stiffer, short-term resistance in the low-1.34s.” 

“USD/CAD gains risk extending to retest key near-term resistance around 1.3515/20 in the short run, where we expect more solid resistance to the USD’s advance.”