The Canadian dollar strengthened against most major currencies in the Asian session on Wednesday.

The Canadian dollar rose to 5-day highs of 1.2458 against the U.S. dollar and 1.4132 against the euro, from yesterday's closing quotes of 1.2484 and 1.4158, respectively.

Against the yen, the loonie advanced to a 5-day high of 95.29.

If the loonie extends its uptrend, it is likely to find resistance around 1.20 against the greenback, 1.37 against the euro and 97.20 against the yen.

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