On a 4-hour chart, the USD/CAD currency pair shows high volatility. At present, the viewpoint is neutral. As it was mentioned before, the fact that the USD/CAD has broken through the resistance level of 1.0360, probably means the rollback from 1.0680 is over.
Nevertheless, if the pair breaches the mark of 1.0385 this viewpoint will be confirmed. In this case, the upward movement with the target to 1.0511 is expected. However, in case the currency pair breaks through the support level of 1.0188 it will indicate that the breakout of the resistance level of 1.0360 was false and the downward movement to 1.0101 should be expected. In a midterm, the USD/CAD continues the uprising motion after it formed a bottom at 0.9930. The breakthrough of 1.0680 will confirm the upward trend and that the downside trend with 1.3063 is breached. In this case, it is expected that the USD/CAD will move up to Fibonacci correctional level of 38.2 from 1.3063 to 0.9929 at 1.1126 with the next target to Fibonacci correctional level of 67.8 at 1.1866.
Support levels: 1.0188, 1.0101, 1.0050
Resistance levels: 1.0385, 1.0511,1.0569
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