USDCAD Daily Analysis – August 16, 2018

USDCAD’s upside movement from 1.2961 extended to as high as 1.3174. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.3250 area. Key support is at 1.3050, only a breakdown below this level could signal completion of the uptrend.

USDCAD 4-hour chart