USDCAD Daily Analysis – February 12, 2020

USDCAD pulled back from 1.3328, breaking below the rising trend line on the 4-hour chart. Deeper decline to test 1.3262 support would likely be seen, a breakdown below this level would indicate that the upside movement from 1.2951 had completed at 1.3328 already, then the pair would find next support at around 1.3200. On the upside, as long as 1.3262 support holds, the upside movement could be expected to resume, and further rise to 1.3350 area is possible.

USDCAD 4-hour chart