USDCAD Daily Analysis – February 13, 2018

USDCAD remains in the uptrend from 1.2247, the pullback from 1.2688 is likely consolidation of the uptrend. Range trading between 1.2489 and 1.2688 is possible in a couple of days. As long as 1.2489 support holds, the uptrend could be expected to continue and next target would be at 1.2800 area. On the downside, a breakdown below 1.2489 support would indicate that lengthier correction for the uptrend is needed, then the pair would find next support at around 1.2400.

USDCAD 4-hour chart