USDCAD Weekly Analysis – February 16, 2020

USDCAD stays in a rising price channel on the daily chart and remains in the uptrend from 1.2951. As long as the channel support holds, the upside movement could be expected to continue and next target would be at 1.3500 area. On the downside, a clear break below the channel support would indicate that the upside movement had completed at 1.3328 already, then another fall towards 1.3000 could be seen.

USDCAD daily chart