USDCAD from 2011 is moving in an upward trend. In this period it has gained almost 50% in value from 0.94 to 1.33. USDCAD is at levels which were seen in 2004. Easily break out of the level 1.3350 should not succeed which May cause move down. Price moves inside upward regression channel, and if falls start they will bring USD/CAD down even to 1.2400. That level is a lower limit of the trend channel.
H1 Time-frame
Last week a peak of 1.3350 was reached and increases have been stopped. Further falls are currently stopped by support near 1.3170. Possible breakdown of this level could bring price to 1.3080.
