USDCAD is trading above the support level 1.30546 and forms a downward wedge pattern in a technical 4-hour chart. I expect the bullish momentum to continue on next trading hours, pair would face hurdle at first resistance level 1.30763 and if it breaches this level, then it will face second resistance at 1.30985. Further mounting pressure will force the pair to climb till level of 1.31556 after breaching of third resistance at 1.31238. A solid breakout of pattern will make the pair to attain a height of 1.32142
If it crosses the support level, then it could get second support at 1.30311 and may witness a fall till level of 1.29591 after sustenance below third and fourth support level at 1.30129 & 1.29929
If it crosses the support level, then it could get second support at 1.30311 and may witness a fall till level of 1.29591 after sustenance below third and fourth support level at 1.30129 & 1.29929