USDCAD extended its short term upside movement from 1.2061 to as high as 1.2390. Further rally is still possible after a minor consolidation and next target would be at the top trend line of the price channel on the daily chart now at around 1.2465. Near term support is at 1.2250, followed by the rising trend line on the 4-hour chart. A clear break below the rising trend line could signal completion of the short term uptrend.
