USDCAD Daily Analysis - October 17, 2016

Short Term Forex Analysis | by ForexCycle.com | Monday, 17 October 2016 02:40 UTC
Being contained by the support of the price channel on 4-hour chart, USDCAD rebounded from 1.3101, indicating that the pair remains in uptrend from 1.2822. Further rise could be expected in a couple of days, and the target would be at 1.3350 area. On the downside, a clear break below the channel support will indicate that the uptrend had completed at 1.3313 already, then deeper decline to 1.2800 area could be seen.

usdcad chart

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