Support levels: 1.0188, 1.0101, 1.0050
Resistance levels: 1.0385, 1.0511,1.0569
On 4-hour chart, the USD/CAD currency pair has broken though the resistance level of 1.0360, this probably denotes that the rollback from the mark of 1.0680 stopped. Nevertheless, in order this viewpoint is confirmed this pair should breach the level of 1.0385. in this case we expect the upward motion with the aim at 1.0511.
If the currency pair reverses and breaks out the support level of 1.0188, then the decline to 1.0101 is expected.
In midterm, the USD/CAD continues the uprising movement after it forming a bottom at 0.9930. A breakthrough of 1.0680 will confirm the upward trend as well as the downward trend with 1.3063 is broken though. In this case, it is expected that the USD/CAD pair will move up to Fibonacci correction level 38.2 from 1.3063 to 0.9929 at 1.1123 with the next target at Fibonacci correction level 61.8 at 1.1866.
