USDCAD surges to new highs for the day. Topside targets eyed. ...Middle East

The USDCAD is extending higher on the day (see hourly chart below), and in the process is trading to new highs for the week as well. The high price in the USDCAD just reached 1.38292.Looking at the hourly chart below, the pair is also extending away from a swing level near 1.3813. Looking at the hourly chart, that level was near lows on October 30 and October 31. On November 2, the price fell below that level on its way to the low price reached on Monday at 1.36284. On Monday, the price started to rebound to the upside help by lower oil prices, but when the rally reached the 1.3813 level on Wednesday, sellers leaned as risk could be defined and limited. After a correction lower on Thursday,

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