USDCAD Daily Analysis – February 8, 2018

USDCAD is testing 1.2590 resistance. A breakout of this level would confirm that the downtrend from 1.2920 had completed at 1.2247 already, then further rise to 1.2750 area could be seen. Near term support is at 1.2485, a breakdown below this level could bring price back to 1.2400 area.

USDCAD 4-hour chart