USDCAD Weekly Analysis – August 7, 2016

USDCAD is in short term uptrend from 1.2654. Further rise is still possible in a couple of weeks, and the target would be at 1.3300 – 1.3400 area. Support level is at 1.2800, a breakdown below this level will indicate that the uptrend is complete, then the following downward movement could bring price to 1.1000 zone.

usdcad chart