USDCAD Daily Analysis – October 17, 2017

USDCAD moved sideways in a trading range between 1.2433 and 1.2598. A breakdown below 1.2433 will confirm that the upside movement from 1.2061 had completed at 1.2598 already, then the pair would find next support at 1.2300, followed by 1.2061. On the upside, a breakout of 1.2598 resistance will indicate that the uptrend has resumed, then another rise towards 1.2750 could be seen.

USDCAD 4-hour chart