USDCAD Daily Analysis – December 22, 2017

USDCAD dropped sharply from 1.2920 to as low as 1.2699, breaking below 1.2713 support. Further decline is still possible after a minor consolidation and next target would be at 1.2623 support. Below this level could bring price to next support level at 1.2433. Resistance is at 1.2800, only break above this level could trigger another rise to test 1.2920 resistance.

USDCAD 4-hour chart