USDCAD Daily Analysis – Tuesday, March 6

USDCAD broke above 1.2920 (Dec 19, 2017 high) resistance and extended its upside movement from 1.2450 to as high as 1.3000.

USDCAD broke above 1.2920 (Dec 19, 2017 high) resistance and extended its upside movement from 1.2450 to as high as 1.3000.

Further rise is till possible after a minor consolidation and next target would be at 1.3100 area. The key support is at the bullish trend line on the 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

USDCAD 4-hour chart

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