USDCAD Daily Analysis – December 5, 2016

USDCAD continued its downward movement from 1.3588 and the fall extended to as low as 1.3254. Deeper decline is still possible, and next target would be at 1.3100 area. Resistance is at 1.3390, only break above this level will indicate that the downtrend has completed, then the following upward movement could bring price to 1.3800 zone.

usdcad chart