The Canadian Dollar is on the defensive for a second consecutive week with USD/CAD rebounding off yearly uptrend support. The immediate focus is on a breakout of the May opening-range with the threat for a deeper correction remaining while below 1.3880. These are the updated targets and invalidation levels that matter on the USD/CAD weekly technical chart. Technical Outlook: In my last Canadian Dollar Technical Forecast we noted USD/CAD had reversed confluent resistance with price, “now searching support within the yearly uptrend. From a trading standpoint, losses should be limited to 1.3623 IF price is heading ... (full story)