News that could affect trading this pair:
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. (USD) FOMC Member Harker Speech

Technical Analysis

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USDCAD Daily

Market is trading at a strong level of support on daily chart. Previous price action always reacted with swift rebound whenever price approaches this level. This support level is also MM2 - bull's buy zone.With stoch looks ready to roll up, i'd be keen to look for buying opportunity on smaller TF

USDCAD 4HR

On 4hr, price clearly struggles to breach and close below the support level. This morning, price opens up at WM2, another good reason for bulls to consider buying.

USDCAD 1HR

On hourly perspective, price is trading under a bearish trendline. When price breaks above the trendline, then I'd look for buying opportunity on next HL with short term profit target at WM4 1.32 and long term target at MM4 1.35

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