USDCAD Daily Analysis – October 13, 2017

USDCAD broke below the bullish price channel on the 4-hour chart and is now in downtrend from 1.2598. Further decline would likely be seen in the coming days and next target would be at 1.2300, followed by 1.2061. Resistance is at 1.2598, only break above this level could trigger another rise towards 1.2750.

USDCAD 4-hour chart