USDCAD Daily Analysis – October 25, 2018

USDCAD rebounded strongly from 1.2969 after touching the bullish trend line on the 4-hour chart, suggesting that the pair remains in the uptrend from 1.2782. As long the price is above the trend line, the fall from 1.3132 could be treated as consolidation for the uptrend and another rise towards 1.3200 could be expected after the consolidation. Key support is now at 1.2969, only a breakdown below this level could signal completion of the uptrend.

USDCAD 4-hour chart