Support levels: 1.0188, 1.0101, 1.0050
Resistance levels: 1.0385, 1.0511,1.0569
On a 4-hour chart, the USD/CAD shows the sideways movement. At present, the viewpoint is neutral. The fact that the USD/CAD has broken through the resistance level of 1.0360 probably means that the rollback from 1.0680 is over. Nevertheless, this viewpoint will be confirmed if the pair breaches the mark of 1.0385. In this case, the upward movement with the target at 1.0511 is expected.
However, if the currency pair breaches the support level of 1.0188 it will denote that the breakout of the resistance level of 1.0360 was false and the downward movement to 1.0101 is expected.
In a midterm, the USD/CAD continues the upside motion after it formed a bottom at 0.9930. A breakthrough of 1.0680 will confirm the upward trend as well as the downward trend with 1.3063 is breached. In this case, it is expected that the USD/CAD pair will go up to Fibonacci correctional level of 38.2 from 1.3063 to 0.9929 at 1.1126 with the next target at Fibonacci correctional level of 61.8 at 1.1866.