USDCAD broke above 1.0385 key resistance and formed a cycle bottom at 1.0276 level on 4-hour chart. Now the pair is in correction of downtrend from 1.0676. Bounce to 1.0500 to reach next cycle top would more likely be seen. Key support is at 1.0276, a breakdown below this level could trigger another fall towards 1.0138 support.

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