USDCAD Daily Analysis – May 5, 2017

USDCAD’s bullish movement from 1.3223 extended to as high as 1.3788. As long as the pair is in the ascending price channel on 4-hour chart, the upward movement could be expected to continue, and next target would be at 1.3900 area. Key support is at 1.3679, only a breakdown below this level could signal completion of the uptrend.

USDCAD chart