USDCAD Weekly Analysis – September 27, 2020

USDCAD broke above the falling price channel on the daily chart, indicating that the downside movement from 1.4667 had completed at 1.2993 already. Further rally would likely be seen in a couple of weeks and next target would be at 1.3600 area. Near term support is at 1.3200, only break below this level could trigger another fall towards 1.2900.

USDCAD daily chart