USD/CAD Daily Analysis – Friday, Oct. 12

USD/CAD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 1.3226 had completed at 1.2782 already. Further rise is still possible and next target would be at 1.3150 area. Support is at the rising trend line, only a clear break below the trend line support could signal completion of the uptrend.

USDCAD 4-hour chart

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