USD/CAD Daily Analysis – Friday, Dec. 28

USD/CAD extended its upside movement from 1.3253 to as high as 1.3660. As long as the price is in the rising price channel on the 4-hour chart, the upside movement could be expected to continue and next target would be at 1.3700 area. Near term support is at 1.3560, below this level could bring the price back to the bottom of the channel.

USDCAD 4-hour chart

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