USDCAD Weekly Analysis – May 13, 2018

USDCAD failed to breakout of 1.3124 resistance and pulled back from 1.2997. Further decline would likely be seen over the next several weeks and the target would be at the bottom support trend line of the price channel on the daily chart. Resistance is at 1.2997, only break above this level could trigger another rise towards 1.3200.

USDCAD daily chart