USDCAD Daily Analysis – October 8, 2018

USDCAD broke above 1.2930 resistance and extended its upside movement to as high as 1.2954. Further rally is still possible and next target would be at 1.3050 area. Near term support is at 1.2880, only a breakdown below this level could trigger another fall towards 1.2700.

USDCAD 4-hour chart