USDCAD Weekly Analysis – May 20, 2017

Under pressure by the top of the price channel on daily chart, USDCAD pulled back from 1.3793 and the fall extended to as low as 1.3508. Further decline could be expected in a couple of weeks and the target would be at the bottom of the channel. Resistance levels are at 1.3680 and 1.3793, only break above these levels could trigger another rise towards 1.4000.

USDCAD chart