Support levels: 1.0000, 0.9980, 0.9930
Resistance levels: 1.0079, 1.0290, 1.0380
On a 4-hour graph the USD/CAD rebounded after it again could not break through the support level near 0.9980-1.0000. The levels near the parity served as a good support, last month the USD/CAD did not manage to break through the parity level. Nevertheless, this week the pair will probably break out this level. At present, the viewpoint is neutral, since the USD/CAD came back to the range of 0.9980-1.0079. If the pair reverses then the breakthrough of 1.0290 will lead to uprising movement with the target to 1.0380. The breakout of 1.0380 will mean that the pullback from 1.0680 ended and further growth should be expected. In a midterm the currency pair will probably remain within the limits of its wide range between 1.0000 and 1.0750-1.0850. However, in case of the reversal the breakout of 1.0680 will confirm the end of consolidation and that the downtrend from 1.3063 is breached. In this case it is predicted that the USD/CAD will move upside to the Fibonacci correction level 38.2 from 1.3063 to 0.9929 at 1.112 with the next target to the Fibonacci correction level 61.8 at 1.1866.