USDCAD Daily Analysis – May 1, 2018

USDCAD broke below 1.2812 support, suggesting that the upside movement from 1.2526 had completed at 1.2899 already. Deeper decline would likely be seen over the next several days and the target would be at 1.2600 area. Resistance is at 1.2899, only a breakout of this level could trigger another upside movement towards 1.3000.

USDCAD 4-hour chart