USDCAD Daily Analysis – December 7, 2018

USDCAD extended its upside movement from 1.3159 to as high as 1.3444. Support is at 1.3330, as long as this level holds, the upside movement could be expected to continue and next target would be at 1.3500 area. On the downside, a breakdown below 1.3330 support would suggest that the upside movement had completed at 1.3444 already, then deeper decline to 1.3200 area could be seen.

USDCAD 4-hour chart