Support levels: 1.0079, 0.9980, 0.9930
Resistance levels: 1.0266, 1.0380,1.0513
Currency pair USD/CAD shows a sideways trend on a 4-hour chart. At the moment USD/CAD is taken neutrally. As it was noted earlier the breakthrough of the line 1.0266 will drive to the upward movement with the target to 1.0380. The breakthrough of 1.0380 means that the rebound from 1.0680 is completed and further growth is expected. On the other hand, if USD/CAD continues downward movement and break down the level 1.0079 it will cause the decrease with the target 0.9980. In the midterm the consolidation with 1.0855 has not finished yet and one more low is expected. Nevertheless, if a reversal takes place the breakthrough of 1.0680 will confirm that the consolidation is over and downtrend with 1.3063 is broken. In this case, USD/CAD is expected to make an upward movement up to the Fibonacci correction level 38.2 from 1.3063 to 0.9929 at 1.1126 with the next target to the Fibonacci correction level 61.8 at 1.1866.