The USD/CAD pullback thus far this week was limited to the 23.6% retracement of the surge starting midway through last week, showing that the bulls clearly remain in control of trade. At this point, a breakout to new 20-month highs above 1.0555 would open the door for a run up to at least the 161.8% extension of the most recent pullback (1.0615), if not a run all the way up to 3-year highs in the upper-1.0600s.
