USDCAD Daily Analysis – Monday, September 3

USDCAD broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 1.3174 had completed at 1.2887 already.

Further rise is still possible and next target would be at 1.3174 resistance. Near term support is at 1.3015, only a breakdown below this level could take the price back towards 1.2887 previous low.

USDCAD 4-hour chart

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