USDCAD Weekly Analysis – May 6, 2017

USDCAD’s upward movement from 1.2968 extended to as high as 1.3793. Further rise could be expected and next target would be at 1.4000 area. Support is at 1.3570, only a breakdown below this level will indicate that consolidation of the uptrend is underway, then the pair will find support at the upward trend line on daily chart.

USDCAD chart