Daily Forex Update: USD/CAD

On the daily chart, the USD/CAD created a double bottom when it reached a low at 1.0109, surpassing the previous low by 30 pips. Regardless, prices found buying support and rallied higher, leaving behind a long candle wick and forming a Hammer pattern and, possibly, a Morning Star candlestick reversal pattern. This daily chart reversal from Thursday's lows also triggered a 30-minute downtrend reversal of a Falling Wedge pattern when prices pierced 1.0145 (E).