USDCAD Daily Analysis – April 9, 2018

USDCAD extended its downside movement from 1.3124 to as low as 1.2731. Resistance is at 1.2810, as long as this level holds, the downside move could be expected to continue and next target would be at 1.2650 area. On the upside, a breakout of 1.2810 resistance would indicate that the downside movement had completed at 1.2731 already, then further rally towards 1.2948 could be seen.

USDCAD 4-hour chart