USDCAD Daily Analysis – August 17, 2017

USDCAD broke below 1.2650 support, indicating that the short term uptrend from 1.2413 had completed at 1.2778 already. Further decline to test 1.2413 previous low support is possible in the coming days. Resistance levels are at 1.2690 and 1.2778, only break above these levels could trigger another rise towards 1.2900.

USDCAD 4-hour chart