USDCAD Weekly Analysis – December 18, 2016

USDCAD failed to break below the bottom of the price channel on daily chart, indicating that the pair remains in uptrend from 1.2460. As long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.3800 area. Only a clear break below the channel support could signal completion of the uptrend.

usdcad chart