USDCAD Daily Analysis – August 14, 2017

USDCAD broke below the bullish support trend line on its 4-hour chart and is now facing 1.2650 key support. A breakdown below this level will indicate that the short term uptrend from 1.2413 had completed at 1.2752 already, then the following downside movement could bring price back to test 1.2413 support. On the upside, as long as 1.2650 support holds, the uptrend could be expected to continue and next target would be at 1.2800 area.

USDCAD 4-hour chart