USDCAD Daily Analysis – October 25, 2017

USDCAD continued its bullish movement from 1.2061 and the rise extended to as high as 1.2692. Near term support is at 1.2530, followed by 1.2433, as long as these levels hold, further rise could be expected and next target would be 1.2778 (Aug 15 high). Only a breakdown below 1.2433 key support could indicate that the upside move is complete, then the following bearish move could bring price back to 1.2300 area.

USDCAD 4-hour chart