USDCAD Daily Analysis – May 7, 2020

USDCAD broke above 1.4151, suggesting that the uptrend from 1.3849 has resumed. Further rise could be expected in the coming days and next target would be at 1.4400 area. Near term support is at 1.4007, only break below this level could trigger another fall towards 1.3850.

USDCAD 4-hour chart