USDCAD Daily Analysis – June 22, 2018

USDCAD extended its upside movement from 1.2856 to as high as 1.3335. Further rise could be expected after a minor consolidation and next target would be at 1.3400 area. Near term support is at 1.3260, a breakdown below this level would suggest that consolidation for the uptrend is underway, then deeper decline to 1.3200 area could be seen. Below there would aim 1.3050 zone.

USDCAD 4-hour chart