USDCAD Daily Analysis – October 20, 2017

USDCAD is facing the key support at 1.2433. A breakdown below this level will indicate that the upside movement from 1.2061 had completed at 1.2598 already, then the following downside movement could bring price back to next support level at 1.2300, followed by 1.2061. Resistance is at 1.2598, a breakout of this level could signal resumption of the uptrend, then next target would be at 1.2750.

USDCAD 4-hour chart