Support levels: 1.0058, 1.0000, 0.9930
resistance levels: 1.0230, 1.0385, 1.0511
On a 4-hour chart, the USD/CAD currency pair continues to trade in downtrend. As it was pointed before, the breakthrough of 1.0178 means that the downside movement with 1.0680 continues., and the decline to 0.9930 should be expected.
However, if the USD/CAD breaches the resistance level of 1.0230, then the short-term viewpoint will become neutral. Further, the breach of the resistance level of 1.0385 will lead to uprising movement to 1.0511.
In a midterm, the USD/CAD currency pair continues to move up after it formed a bottom at 0.9930. The breakthrough of 1.0680 will confirm the uptrend, as well as the downtrend with 1.3063 is breached. In this case, it is expected that the USD/CAD will rise to Fibonacci correctional level of 38.2 from 1.3063 to 0.9929 at 1.1126 with the next target to Fibonacci correctional level of 61.8 at 1.1866.