USDCAD Daily Analysis – February 26, 2019

USDCAD is facing the resistance of the falling trend line on the 4-hour chart. As long as the trend line resistance holds, the bounce from 1.3112 could be treated as consolidation for the downtrend from 1.3339, another fall towards 1.3000 is still possible after the consolidation. Key resistance is at 1.3241, only a break of this level could signal completion of the downtrend.

USDCAD 4-hour chart