A significant setback from a new rebound peak (1.2665), has switched the focus back to support into midweek.
But whilst above 1.2418 and given the strong bounce from here Friday, we see upside pressures intact through month-end from the prior solid defence of the 1.2352 February setback low and the January chart support at 1.2313.
For Today: We see a downside bias for 1.2418, which we would then look to hold; break here aims for stronger foundations at 1.2361/52.
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4 Hour USDCAD Chart