USDCAD Daily Analysis – December 1, 2017

USDCAD extended its upside movement from 1.2672 to as high as 1.2909. Further rise to test 1.2916 resistance would likely be seen. A breakout of this level could signal resumption of the longer term uptrend from 1.2061 (Sep 8 low), then the following upside movement could take price to 1.3100 area. Near term support is at 1.2836, only break below this level could bring price back towards 1.2666.

USDCAD 4-hour chart