USDCAD is facing the support of the upward trend line on 4-hour chart. As long as the trend line support holds, the fall from 1.0608 could be treated as consolidation of the uptrend from 1.0137, one more rise to 1.0700 area to complete the upward movement is still possible. On the downside, a clear break below the trend line support will indicate that the uptrend from 1.0137 had completed at 1.0608 already, then the following downward movement could bring price back to 1.0300 zone.
Provided by ForexCycle.com
