USDCAD Daily Analysis – Thursday, Oct. 12

USDCAD broke below 1.2448 key support, indicating that the uptrend from 1.2601 had completed at 1.2598 already.

Further decline could be expected and next target would be at 1.2300, followed by 1.2061. Near-term resistance is at 1.2598, only break above this level could trigger another rise towards 1.2750.

USDCAD 4-hour chart

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Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

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