Oil has broken to new highs reaffirming the bullish trend. Below is a chart



The upside has carried some momentum, which is showing in the Canadian dollar which slid through the 1.30 and reached a low of 1.2743 today before starting to pull back toward the 1.28 level.

We may see a bit of pull back in the Cad crosses as oil consolidates near previous highs, which can offer a setup to buy the CAD on dips.
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