USDCAD cracks key support at 1.2700 zone

The pair remains in red on Thursday and hit two-week low at 1.2687 after probing below 1.2698 base and 20SMA at 1.2695.
Loonie is supported by recent strength in oil prices and could extend advance against the US dollar.
Firm break below 1.2700 support zone is expected to trigger stops parked below and spark fresh weakness towards 1.2628 (Fibo 61.8% of 1.2450/1.2916 upleg) and 1.2600 (Fibo 38.2% of 1.2061/1.2916 ascend.
Mixed signals from daily chart studies could result in extended consolidation while 20SMA limits downside attempts.
Extended upticks should be capped south-turning 10SMA (1.2788) to keep near-term bears off 1.2916 high in play.

Res: 1.2740; 1.2788; 1.2819; 1.2835
Sup: 1.2687; 1.2628; 1.2600; 1.2560