In last days large volatility showed up on USDCAD. In September 2015, the price came reached a new 11-year maximum. There is a chance to continue the upward trend, which lasts from 2012. However, the breakout of resistance at 1.3350 proved to be false and the price began to fall dynamically from September 30th. Further supports failed to stop the decreases. Level 1.3000 was broken below but it was a fake breakout. USDCAD quickly returned inside the consolidation.
Upward trend may return, which was suggested by Price Action candle. Yesterday “hammer” candle formation appeared near support. Further targets of upward movement are 1.3120, 1.3300, 1.3350. Alternatively, if the falls will be continued first target may be found at support 1.2950. After break below it, price may reach the next support at 1.2800.
