The USD/CAD has been trading in a range since 2010. Currently, the Canadian dollar is at the higher end of that range. In fact, the USD/CAD exchange rate has not been this high in over three years. The price of the US dollar in December 2013 reached so high that, aside from a blip in April 2010, it has not been at these levels since January 2010. Furthermore, it got here after having traded for an entire week, on a lower level, in the tightest range since 2004. The Euro currency unit and the Great Britain Pound are also up since November. The GBP is actually up against the USD on a 2 year high and against the CAD on a 4 year high. Interestingly, the GBP/CAD appears to have been trading in a range since 2009 and appears to be in the higher end of that range. Which brings us back to the USD/CAD being at the higher end of its range. Although, it is safer to bet on ranges being observed rather than broken, it must be noted that any range can technically be broken at any time. Pardon the pun.
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