USD/CAD Daily Analysis – Wednesday, Feb. 27

USD/CAD moved sideways in a trading range between 1.3112 and 1.3241. As long as 1.3241 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 1.3339, further decline towards 1.3000 is still possible after the consolidation. Only a break of 1.3241 resistance could signal completion of the downtrend.

USDCAD 4-hour chart

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