USD/CAD broke above the bearish trend line on its 4-hour chart, suggesting that the downtrend from 1.2662 had completed at 1.2061 already. A further rally would likely be seen over the next several days and the target would be at the bearish trend line on the daily chart. Near support is at 1.2061, only a breakdown below this level could trigger another fall towards 1.1800.
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