A further correction Tuesday, to reinforce the previous reversal through the trend line support from late 2014, to break below the 2015 neckline support. But still holding above the 1.2352 February setback low and the January chart support at 1.2313.
We look for these lower chart levels to hold for a rebound back higher and for a bullish theme to resurface.
For Today: We see an upside bias for 1.2491; break here aims for 1.2538.
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4 Hour USDCAD Chart