USDCAD Daily Analysis – December 21, 2017

USDCAD broke below 1.2835 support, indicating that the short term uptrend from 1.2623 had completed at 1.2920 already. Deeper decline towards 1.2713 support could be expected in the coming days. A breakdown below this level could trigger further downside movement towards 1.2623. Resistance is at 1.2920, only break above this level could signal resumption of the uptrend from 1.2623, then next target would be at 1.3100 area.

USDCAD 4-hour chart