USDCAD Daily Analysis – February 14, 2018

No changed in our view, USDCAD remains in the uptrend from 1.2247, the fall from 1.2688 would possibly be consolidation for the uptrend. As long as 1.2489 support holds, the uptrend could be expected to resume and another rise towards 1.2800 is still possible after the consolidation. On the downside, a breakdown below 1.2489 support would suggest that lengthier correction for the uptrend is needed, then the pair would find next support at around 1.2400.

USDCAD 4-hour chart