USDCAD failed to break below the bottom support trend line of the price channel on its 4-hour chart and rebounded strongly from 1.2803. The pair is now facing 1.3000 resistance, a breakout of this level could signal resumption of the uptrend from 1.2247, then next target would be at 1.3100 area. Only a clear break below the channel support would indicate that the upside movement is complete.
