The Canadian dollar is trading on a soft note vs. its US counterpart. The buyers managed to lead the price to the monthly high at 1.2650 on Tuesday. The spot remained around its fresh highs and Wednesday as well. The resistance is at 1.2650, the support stands 1.2600.
The US currency is approaching to a monthly high at 1.2682. Should this mark be reached successfully, a further extension towards 1.2750 could be observed further. Otherwise, the pair may start a downward correction.