USDCAD Daily Analysis – Wednesday, Dec. 19

USDCAD broke above 1.3444 resistance and extended its upside movement from 1.3159 to as high as 1.3496.

Further rise is still possible and next target would be at 1.3550 area.

Support is located at the bullish trend line on the 4-hour chart, only a breakdown below the trend line support could signal completion of the uptrend.

USDCAD 4-hour chart

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.