USDCAD Daily Analysis – Monday, Dec. 31

USDCAD stays in a bullish price channel on the 4-hour chart and remains in the uptrend from 1.3253.

As long as the channel support holds, the upside movement could be expected to continue and next target would be at 1.3700 area.

Near-term support is at 1.3590, below this level could bring the price back to the bottom of the channel.

USDCAD 4-hour chart

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