After touching the bottom of the price channel on daily chart, USDCAD rebounded back into the channel, indicating that the pair remains in uptrend from 1.2460 (May 3, 2016 low). Further rise could be expected over the next several weeks, and next target would be at 1.3900 area. Key support is at 1.3018, only break below this level could signal completion of the uptrend.
