USDCAD Weekly Analysis – March 11, 2018

USDCAD stays above a bullish trend line on the daily chart and remains in the uptrend from 1.2248. As long as the price is above the trend line, the fall from 1.3000 could be treated as consolidation of the uptrend and further rise towards 1.3200 could be expected after the consolidation. On the downside, a clear break below the trend line support would indicate that the uptrend had completed at 1.3000 already, then deeper decline to 1.2350 area could be seen.

USDCAD daily chart