Support levels: 1.0075, 0.9980, 0.9930
Resistance levels: 1.0385, 1.0511, 1.0680
At 4-hour graph, the USD/CAD currency pair tests the support level near 1.0075, the breakout of which will lead to the further decrease to 0.9980. However, if the mark of 1.0075 is not broken through, then the rebound to upwards and further consolidation are expected.
If the USD/CAD reverses, then the breakout of 1.0385 will denote that the pullback from 1.0680 is finished and advance is awaited. This fact is confirmed by the divergence on the MACD and RSI on a 4-hour chart.
In a midterm, the consolidation from 1.0855 has not ended yet and another low is expectable. Nevertheless, in case of the reversal then the breach of 1.0680 will affirm the end of the consolidation and that the downtrend from 1.3063 is broken through. In this case it is expected that the USD/CAD will move upwards to the Fibonacci correction level 38.2 from 1.3063 to 0.9929 at 1.1126 with the next target at Fibonacci correction level 61.8 at 1.1866.