USDCAD Daily Analysis – December 6, 2017

USDCAD extended its downside movement from 1.2909 to as low as 1.2623. Further decline would likely be seen after a minor consolidation and next target would be at 1.2600 area. Near term resistance is at 1.2750, only break above this level could trigger another rise to test 1.2916 resistance.

USDCAD 4-hour chart