usd-cadTrend is bullish in 1 hour chart. Intraday support is present at 1.2473 price level. As long as price prints; higher highs and higher lows, I would be probably looking for buy trades. Since yesterday, the currency pair has printed a strong bearish leg. This  looks like a start of a new down trend. If bearish candlestick closes below 1.2473 critical support level then up trend is going to end. In this case, I would prefer to stay out of the market and re-analyze the price action.

By FXOpen