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Collins: Why USDCAD could go even higher

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Alan Collins is looking to buy USDCAD as he believes the pair will continue to rise after trading at the most positive levels for 11 years.

With gains now reaching a 62% correction to the 2002-09 decline, Collins says the pair may see some profit taking or consolidation, especially with sentiment overbought. But he believes any dip will be limited, especially with prices hugging the upper band of both daily and weekly Keltner channels. 

Collins will buy USDCAD on a dip to 1.3370-80 area: His targets are at 1.3465, 1.3544 and 1.3610 with a stop below 1.3335