USDCAD Daily Analysis – April 23, 2018

USDCAD broke above the top trend line of the price channel on its 4-hour chart, suggesting that the downside movement from 1.3124 had completed at 1.2526 already. Further rally would likely be seen after a minor consolidation and next target would be at 1.2900 area. Support is at 1.2600, as long as this level holds, the uptrend will continue.

USDCAD 4-hour chart