USD/CAD failed in its attempt to break below the bullish trend line on the 4-hour chart and is now facing 1.2916 resistance. A breakout of this level could signal resumption of the uptrend from 1.2450.

Following that, the next target would be at the 1.3100 area. Key support is at 1.2780. Only a break below this level could indicate that lengthier consolidation for the uptrend from 1.2061 (Sep 8 low) is underway. Then the pair would find next support at around 1.2600.

USDCAD 4-hour chart

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