The Technical Analysis Team at Societe Generale sees evidence of the pair heading towards 1.3165, with a break opening up the prospects for a target of 1.3460. Key Quotes "USD/CAD is showing a recovery after testing our advocated support of 1.30/1.2850, the 61.8% retracement of up move since last May and more importantly the confirmation level of the larger double bottom." "With daily indicators rebounding from a floor, the pair appears to head towards 1.3165. A break above will mean possibility of retesting graphical levels at 1.3460. This will remain an important hurdle near term." For more information, read our latest forex news.