USDCAD Daily Analysis – October 31, 2019

USDCAD broke above the falling price channel on the 4-hour chart, suggesting that the downside movement from 1.3347 had completed at 1.3041 already. Further rally would likely be seen and next target would be at 1.370 area. Near term support is at 1.3145, below this level could bring the price back towards 1.3050.

USDCAD 4-hour chart