USDCAD’s uptrend from 1.2061 extended to as high as 1.2598. As long as the price is in the rising price channel on the 4-hour chart, the uptrend could be expected to continue and next target would be at 1.2700 area.
Key support is now at 1.2448, only a breakdown below this level would indicate that the uptrend had completed at 1.2598 already, this could trigger a downside movement towards 1.2061 previous low.
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