USDCAD Daily Analysis – September 29, 2017

USDCAD stays above a bullish trend line on the 4-hour chart and remains in the uptrend from 1.2061. As long as the price is above the trend line, the fall from 1.2519 could be treated as consolidation of the uptrend and further rise to 1.2700 area could be expected. Key support is at 1.2327, only a breakdown below this level could indicate that the uptrend had completed at 1.2519 already, then the following downside move could take price back towards 1.2061.

USDCAD 4-hour chart