USDCAD Daily Analysis – April 7, 2017

USDCAD moved sideways in a trading range between 1.3378 and 1.3455. Key support is at 1.3378, as long as this level holds, the uptrend from 1.3277 could be expected to continue, and further rise to 1.3500 area is possible after consolidation. On the downside, a breakdown below 1.3378 support will signal completion of the uptrend, then the following downward movement could bring price back to 1.3200 zone.

USDCAD chart