USDCAD Weekly Analysis – August 27, 2017

USDCAD is facing 1.2413 support, a breakdown below this level could signal resumption of the downtrend from 1.3793, then next target would be at 1.2300, followed by 1.2050. Resistance is at 1.2778, only a break above this level will indicate that the downside movement from 1.3793 had completed at 1.2413 already, then the following upside movement could bring price back towards 1.3500.

USDCAD daily chart