USDCAD Daily Analysis – December 27, 2018

USDCAD stays in a bullish price channel on the 4-hour chart and remains in the uptrend from 1.3253. As long as the price is in the channel the pullback from 1.3617 could be treated as consolidation for the uptrend, further rise to 1.3700 is possible after the consolidation. Near term support is at 1.3560, a breakdown below this level could bring the price back to the bottom of the channel, only a clear break below the channel support could signal completion of the uptrend.

USDCAD 4-hour chart