USDCAD Daily Analysis – October 2, 2017

USDCAD extended its upside movement from 1.2061 to as high as 1.2532. As long as the price is above the rising trend line on the 4-hour chart, the uptrend could be expected to continue and next target would be at 1.2700 area. On the downside, a break through below the rising trend line could bring price back to next support level at 1.2327, below this level could signal completion of the uptrend, then the following downside move could take price back towards 1.2061 previous low.

USDCAD 4-hour chart