At the close of the US session and daily candle, USDCAD marked its highest close since August 16th of 2007. While price action is still off its intraday highs, this close should help to influence those traders that don’t tune in for the ‘noise’ of day trading. This further supports the rising trend from the July 22nd low - which has held up to numerous tests through the past month. Near-term resistance is still measured at 1.08 which happens to be a 61.8% fib retracement of the plunge from the February 2007 high to November 2007 record low. Alternatively, immediate support can be measured in the rising trend / 20-day SMA confluence right around 1.06.