USDCAD Daily Analysis – October 20, 2016

USDCAD rebounded strongly from 1.3005, indicating that the downward movement from 1.3313 had completed. Further rally could be expected over the next several days, and next target would be at 1.3250 area. Support level are at 1.3070 and 1.3005, only break below these levels could trigger another fall towards 1.2900.

usdcad chart