USDCAD stays above a bullish trend line on its 4-hour chart and remains in the uptrend from 1.2061. As long as the trend line support holds, the uptrend could be expected to continue and further rise to 1.2700 area is still possible.
Key support is now at 1.2416, only a breakdown below this level could indicate that the uptrend is complete, then the following downside move could take price back towards 1.2061 previous low.
Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.
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