USDCAD Weekly Analysis – June 17, 2018

USDCAD extended its upside movement from 1.2526 to as high as 1.3205. Further rise is still possible after a minor consolidation and next target would be at 1.3300 area. Near term support is at 1.2900, a breakdown below this level could bring the price back towards the bottom support trend line of the price channel on the daily chart.

USDCAD daily chart