USDCAD Weekly Analysis – April 5, 2020

USDCAD remains in the uptrend from 1.2951, the pullback from 1.4667 is likely consolidation for the uptrend. As long as 1.3920 support holds, the upside movement could be expected to resume, and further rise towards 1.1500 is still possible after the consolidation. On the downside, a breakdown below 1.3920 support would suggest that the upside movement had completed at 1.4667 already, then the pair would find support at the rising trend line on the daily chart.

USDCAD daily chart