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USDCAD traded higher Monday, resuming the rally that started Sep 13. The pullback from yesterday’s high is considered corrective. The recent break of 1.3224, Jul 14 high and bull trigger, confirms a resumption of the broader uptrend. Attention is on 1.3409 next, the upper band of a moving average envelope. Note that moving average studies are in a bull mode set-up, highlighting positive market sentiment. Key trend support is at 1.2954.