USDCAD Daily Analysis – October 10, 2017

USDCAD is now facing the bottom support trend line of the price channel on its 4-hour chart. Below the channel support could take price to 1.2448 key support level. A breakthrough would indicate that the uptrend from 1.2061 had completed at 1.2598 already. Then the following downside movement could take price back towards 1.2061 previous low.

USDCAD 4-hour chart