USDCAD Daily Analysis – December 22, 2016

USDCAD continued its upward movement from 1.3080 and the rise extended to as high as 1.3446. Near term support is at the upward trend line on 4-hour chart. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.3500 area. Key support is at 1.3280, only break below this level could signal completion of the uptrend.

usdcad chart