USDCAD : Lower End of the Channel

USDCAD is trading at 1.32173 which is very near to lower end trading channel of last one year. You can see same channel in above chart.

One can initiate long position at current levels with stop loss of 1.3185 for Target of 1.3275 and 1.3310 in 4-5 trading sessions.

Although below 1.3185 levels it may see further slide upto 1.3100 levels.