USDCAD Daily Analysis – August 10, 2017

USDCAD’s short term uptrend from 1.2413 extended to as high as 1.2721. Near term support is at the rising trend line on its 4-hour chart. As long as the trend line support holds, the uptrend could be expected to continue and next target would be at 1.2740 area. Key support is now at 1.2629, a breakdown below this level could bring price back to test 1.2413 support.

USDCAD 4-hour chart