USDCAD Daily Analysis – May 4, 2017

USDCAD stays in a ascending price channel on 4-hour chart and remains in uptrend from 1.3223. As long as the pair is in the channel, the fall from 1.3757 could be treated as consolidation of the uptrend, and further rise to 1.3800 area is still possible after the consolidation. Key support is now at 1.3630, only break below this level could signal completion of the uptrend.

USDCAD chart