USDCAD Daily Analysis – March 14, 2017

Under pressure by the resistance of 1.3598 (Dec 28, 2016 high), USDCAD pulled back from 1.3535. However, as long as the pair stays in the upward price channel on 4-hours chart, the fall from 1.3535 could be treated as consolidation of the uptrend from 1.3009, and further rise to 1.3600 area is still possible after the consolidation. Key support is at 1.3372, only break below this level could signal completion of the uptrend.