USDCAD Daily Analysis – December 4, 2019

USDCAD failed to break above 1.3327 resistance and stays in a trading range between 1.3254 and 1.3327. As long as the price is above the bullish trend line on the 4-hour chart, the price action in the range could be treated as consolidation for the uptrend from 1.3041, further rise to 1.3360 area is possible after the consolidation. Key support is at 1.3254, a breakdown below this level could signal completion of the uptrend.

USDCAD 4-hour chart