USDCAD is continuing downward movement which was started in mid-January 2016. Currently further direction of the main uptrend is endangered. Because uptrend line was broken (that line was respected since 2012), return above 1.3200 – 1.3250 area should be treated as a bullish signal. It will inform that demand returned to the market. Above this area price will be safe again over long-term uptrend line and also short-term downtrend line will be broken (dotted blue line at the chart). Nearest support: 1.2840, Nearest resistances: 1.3050, 1.3410.

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Time-frame H4

USDCAD_H4

Time-frame W1

USDCAD_W1

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