USDCAD had reached the uptrend line

USDCAD had reached the uptrend line from 0.9444 to 0.9669. Deeper decline to test 0.9669 support would likely be seen later today, a breakdown below this level will confirm that the rise from 0.9444 had completed at 0.9898 already, then the following downward move could bring price back to 0.9500-0.9600 area. However, as long as 0.9669 support holds, the fall from 0.9898 is treated as consolidation of uptrend from 0.9444, and one more rise towards 1.0000 is still possible.

Daily Forex Forecast

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