USDCAD Weekly Analysis – September 10, 2017

USDCAD’s downside movement from 1.3793 extended to as low as 1.2061. Resistance is at the bearish trend line on the daily chart. As long as the price is below the trend, the downside movement could be expected to continue and next target would be at 1.1600 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

USDCAD daily chart