USDCAD Daily Analysis – August 8, 2017

USDCAD’s short term uptrend from 1.2413 extended to as high as 1.2714. As long as the price is above the rising trend line on its 4-hour chart, the uptrend could be expected to continue and next target would be at 1.2740 area. On the downside, a clear break below the trend line support could bring price to test 1.2552 key support.

USDCAD 4-hour chart