USD/CAD Forecast Dec. 7-11 – Rally Continues For Canadian Dollar

1.3137 has held in resistance since mid-November.

1.3014 (mentioned last week) is next.

1.2931 has held in support since October 2018.

1.2832 is an important monthly support line.

1.2730 is next.

1.2665 was a double-bottom in November 2018.

1.2545 has held since April 2018.

1.2450 is the final support line for now,

I remain bearish on USD/CAD

The US dollar (UDN) remains on the defensive, and a weak NFP report on Friday could weigh on investor sentiment towards the currency.

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