USDCAD Daily Analysis – Thursday, May 17

USDCAD is facing 1.2728 support, a breakdown below this level would suggest that the downside movement from 1.2997 has resumed, then further decline towards 1.2500 could be seen.

Resistance levels are at 1.2925 and 1.2997, only break above these levels could trigger another rise towards 1.3100.

(Click on image to enlarge)

USDCAD 4-hour chart

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