USDCAD Weekly Analysis – June 24, 2018

USDCAD’s upside movement from 1.2526 extended to as high as 1.3381. Near term support is at 1.3180, as long as this level holds, the upside movement could be expected to continue and next target would be at 1.3500 area. However, a breakdown below 1.3180 support could bring the price back to 1.3050 area, below here would aim the bottom of the price channel on the daily chart.

USDCAD daily chart