USDCAD Daily Analysis – August 11, 2017

USDCAD extended its short term uptrend from 1.2413 to as high as 1.2752. As long as the price is above the bullish trend line on its 4-hour chart, the upside movement could be expected to continue and next target would be at 1.2800 area. Key support is now at 1.2650, only a breakdown below this level could bring price back to test 1.2413 support.

USDCAD 4-hour chart