Support levels: 0.9980, 0.9930, 0.9826
Resistance levels: 1.0100, 1.0160, 1.0385
The USD/CAD is consolidating near the support level of 0.9980. If the USD/CAD breaks through 0.9980, this will lead to the further decline with the target at 0.9930.
Otherwise, the rebound to upside is expectable. If the uprising motion continues, then the breakout of the resistance level of 1.0160 will target the currency pair at 1.0385. Further, the breakthrough of 1.0385 will denote that a pullback from 1.0680 finished and further advance should be expected.
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 breakout of 1.0680 will confirm the end of the consolidation and that the downtrend from 1.3063 is breached. In this case it is forecasted that the USD/CAD will move to the upside to the Fibonacci correction level 38.2 from 1.3063 to 0.9929 at 1.1126 with the next target at the Fibonacci correction level 61.8 at 1.1866.