USD/CAD Breaks Above Declining Trendline and Tags Parity

From fxtimes.com

Trendline break: There is a trendline projected from the 1.0441 high from June 1. This week starts (10/29) with a break above this trendline, which started last Friday (10/26). The RSI reading also broke above 60, a sign that the bearish momentum from the downswing since June is lost. Targets: The breakout exposes the 2012 high of 1.0441. But a more conservative target would be the 61.8% retracement level at 1.0131. If the market shows ability to hold above 1.0, it builds the case for higher targets. Throwback: For now, the ability to bounce off a previous resistance pivot at 0.9886 was a good sign for the test of ... (full story)