USDCAD Daily Analysis – April 23, 2020

USDCAD stays in a rising price channel on the 4-hour chart and remains in the uptrend from 1.3854. As long as the channel support holds, the upside movement could be expected to continue and next target would be at 1.4400 area. On the upside, a breakdown below the channel support would indicate that the upside movement had completed at 1.4264 already, then another fall towards 1.3900 could be seen.

USDCAD 4-hour chart