USDCAD Daily Analysis – Wednesday, Oct. 3

USDCAD remains in the downtrend from 1.3081, the bounce from 1.2782 is likely consolidation for the downtrend.

Further decline is still possible after the consolidation and next target would be at 1.2700 area. Resistance is at 1.2870, only a break of this level could bring the price back into 1.3000 zone.

USDCAD 4-hour chart

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