USDCAD Daily Analysis – December 7, 2017

USDCAD bounced strongly from 1.2623 and broke above 1.2750 resistance. Further rise would likely be seen in the coming days and next target would be at 1.2916. A breakout of this level will indicate that the uptrend from 1.2061 (Sep 8 low) has resumed, then next target would be at 1.3100 area. Support levels are at 1.2720 and 1.2623, only break below these levels could trigger another fall towards 1.2400.

USDCAD 4-hour chart