USD/CAD surges through 1.30 mark, highest since late June

   •  USD gains traction, defying lingering global trade-war concerns.
   •  Stop run aggravates the upsurge during early NA session.
   •  Positive oil prices did little to support commodity-linked Loonie.

The USD/CAD pair finally broke out of its consolidative range and busted through the key 1.30 psychological mark to the highest level since late June. 

The pair caught some strong bids during the early NA session and was being supported by a goodish pickup in the US Dollar demand, despite concerns over the US President Donald Trump's protectionist stance. 

Moreover, possibilities of some short-term trading stops being triggered, above 1.2980 level, might have provided an additional boost, with a breakthrough the 1.30 handle further aggravating the bullish momentum. 

Meanwhile, the prevalent positive trading sentiment around crude oil prices, which tends to underpin demand for the commodity-linked currency - Loonie, did little to stall the pair's strong upsurge to the 1.3030 region.

Technical levels to watch

Any subsequent up-move is likely to confront resistance near mid-1.3000s, above which the pair is likely to aim towards reclaiming the 1.3100 handle. On the flip side, the 1.30 handle now becomes an immediate support to defend, which if broken might prompt some profit taking slide back towards 1.2950-45 support.