USDCAD Weekly Analysis – December 17, 2017

USDCAD is facing 1.2916 resistance once again. A breakout of this level will signal resumption of the uptrend from 1.2061, then next target would be at 1.3200 area. Near term support is at 1.2623, a breakdown below this level could bring price back to next support level at 1.2433. Below here could trigger further downside movement towards 1.2061.

USDCAD daily chart