$USDCAD was higher overnight as it extends last week's breakout above the September-October downtrend line.
Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the rally off November's low, the reaction high crossing at 102.10 is the next upside target. Closes below the 20-day moving average crossing at 100.23 would signal that a short-term top has been posted.
First resistance is the overnight high crossing at 101.14.
Second resistance is the reaction high crossing at 102.10.
First support is the 20-day moving average crossing at 100.23.
Second support is November's low crossing at 99.19.
