USDCAD Daily Analysis – May 11, 2018

USDCAD broke below 1.2803 support, suggesting that the upside movement from 1.2526 had completed at 1.2997 already. Further decline could be expected after a corrective consolidation and next target would be at 1.2600 area. Resistance levels are at 1.2870 and 1.2997, only break above these levels could trigger another rise towards 1.3100.

USDCAD 4-hour chart