USDCAD Daily Analysis – Friday, March 9

USDCAD remains in the uptrend from 1.2450. As long as the price is above the bullish trend line on the 4-hour chart, the fall from 1.3000 could be treated as consolidation for the uptrend, and another rise towards 1.3100 could be expected after the consolidation. On the downside, a clear break below the trend line support would indicate that the upside movement had completed at 1.3000 already, then deeper decline to 1.2700 area could be seen.