USDCAD Weekly Analysis – April 8, 2017

USDCAD moved sideways in a trading range between 1.3264 and 1.3534. The sideways movement is likely consolidation of the short term uptrend from 1.2968 and further rise to 1.3800 area is possible after the consolidation. On the downside, a breakdown below 1.3264 support will indicate that the uptrend had completed at 1.3534 already, then deeper decline to 1.2900 area could be seen.

USDCAD chart