USDCAD Daily Analysis – June 18, 2018

USDCAD extended its upside movement from 1.2728 to as high as 1.3207. Further rise is still possible after a minor consolidation and next target would be at 1.3250 area. Near term support is at 1.3110, a breakdown below this level could bring the price back to 1.3060 area. Below this level would aim the bottom support trend of the price channel on the 4-hour chart.

USDCAD 4-hour chart