USDCAD Daily Analysis – February 7, 2018

USDCAD is facing 1.2590 resistance. A breakout of this level would suggest that the downtrend from 1.2920 had completed at 1.2247 already, then further rise to 1.2750 area could be seen. Near term support is at 1.2430, a breakdown below this level could trigger another fall towards 1.2247.

USDCAD 4-hour chart