USDCAD Daily Analysis – February 17, 2020

USDCAD is facing the support of the rising price channel on the 4-hour chart. As long as the channel support holds, the fall from 1.3328 could be treated as consolidation for the uptrend, and further rise to 1.3350 area is possible after the consolidation. On the downside, a clear break below the channel support would indicate that the upside movement had completed at 1.3328 already, then next target would be at 1.3150 area.

USDCAD 4-hour chart