USDCAD Daily Analysis – August 7, 2017

USDCAD stays above a rising trend line on the 4-hour chart and remains in the short term uptrend from 1.2413. As long as the price is above the trend line, the upside movement could be expected to continue and next target would be at 1.2740 area. Key support is at 1.2552, only a breakdown below this level could bring price back to test 1.2413 support.

USDCAD 4-hour chart