USDCAD Weekly Analysis – December 23, 2018

USDCAD extended its upside movement from 1.2782 to as high as 1.3601. As long as the price is above the bullish trend line on the daily chart, the upside movement could be expected to continue and next target would be at 1.3800 area. Near term support is at 1.3400, a breakdown below this level could bring the price back towards the trend line.

USDCAD daily chart