USDCAD Daily Analysis – August 24, 2018

USDCAD broke above 1.3057 resistance, suggesting that the downside move from 1.3174 had completed at 1.2986 already. Further rally would likely be seen in a couple of days and next target would be at 1.3170 area. Support is at 1.3035, only a breakdown below this level could bring the price back towards 1.2961 previous low.

USDCAD 4-hour chart