Technical Trading Tips and Techniques by 
(Please click on the accompanying chart to enlarge.)
As of Thursday morning in New York, price on the USD/CAD daily chart, as shown, continues to strengthen significantly and adhere to the steep uptrend support line that has been in place since late September. The continued strength of this pair hints at a possible targeting of the double-tested 1.3000 level, the recent 4-year high in the pair. Before that level is potentially reached again, however, a significant correction should occur. If this correction happens to break the aforementioned uptrend support line, price could subsequently target the 1.2100 region to the downside, a significant prior support/resistance level.
UPDATE: Apparently, there was to be no major correction. As of early Friday morning in New York, price has come within only a few pips of reaching the prior double-tested high around the 1.2980-1.3000 region. Traders are currently watching this level for any significant price action, whether breakout or bounce.