USDCAD Daily Analysis – February 20, 2018

USDCAD’s bounce from 1.2450 extended to as high as 1.2592. Further rise is still possible and next target would be at 1.2630 area. Near term support is at 1.2525, a breakdown below this level could bring price back to test 1.2450 support. Below here could trigger further downside movement towards 1.2300 area.

USDCAD 4-hour chart