USDCAD rebounds from 1.0206

Being supported by the upward trend line on 4-hour chart, USDCAD rebounds from 1.0206, suggesting that a cycle bottom has been formed, and the uptrend from 0.9799 has resumed. Further rise could be seen over the next several days, and next target would be at 1.0400 area. Initial support remains at the upward trend line, only a clear break below the trend line support could signal completion of the uptrend.


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