USDCAD Daily Analysis – March 2, 2018

USDCAD’s upside movement extended to as high as 1.2895, facing the previous high resistance at 1.2920 (Dec 19, 2017 high). As long as the price is above the bullish trend line on the 4-hour chart, the upside movement could be expected to continue and a breakout of 1.2920 resistance could take price to 1.3100 area. Only a clear break below the trend line support could signal completion of the uptrend.

USDCAD 4-hour chart