USDCAD Daily Analysis – March 6, 2018

USDCAD broke above 1.2920 (Dec 19, 2017 high) resistance and extended its upside movement from 1.2450 to as high as 1.3000. Further rise is till possible after a minor consolidation and next target would be at 1.3100 area. The key support is at the bullish trend line on the 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

USDCAD 4-hour chart