USDCAD Daily Analysis – Monday, Sept. 25

Analyst and Forex Trader • Sep 25, 2017 at 3:45 AM EDT

USDCAD extended its short-term upside movement from 1.2061 to as high as 1.2390.

USDCAD extended its short-term upside movement from 1.2061 to as high as 1.2390. Further rally is still possible after a minor consolidation and next target would be at the top trend line of the price channel on the daily chart now at around 1.2465.

Near-term support is at 1.2250, followed by the rising trend line on the 4-hour chart.

A clear break below the rising trend line could signal completion of the short-term uptrend.

USDCAD 4-hour chart

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