USDCAD broke above 1.2538 resistance and extended its bullish movement from 1.2061 to as high as 1.2584. As long as the price is in the rising price channel on the 4-hour chart, the uptrend could be expected to continue and next target would be at the top trend line of the channel. Key support is at 1.2416, only a breakdown below this level could signal completion of the uptrend.
