USDCAD Daily Analysis – December 15, 2016

USDCAD broke above the downward price channel on 4-hour chart, indicating that the downtrend from 1.3536 had competed at 1.3080 already. Further rally could be expected after a minor consolidation and next target would be at 1.3500 zone. Support is at 1.3200, as long as this level holds, the uptrend will continue.

usdcad chart