USDCAD Weekly Analysis – Sunday, Feb. 16

USDCAD stays in a rising price channel on the daily chart and remains in the uptrend from 1.2951. As long as the channel support holds, the upside movement could be expected to continue and the next target would be at 1.3500 area.

On the downside, a clear break below the channel support would indicate that the upside movement had completed at 1.3328 already, then another fall towards 1.3000 could be seen.

USDCAD daily chart

 
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.