USDCAD Weekly Analysis – July 1, 2018

USDCAD broke below 1.3180 support, suggesting that the upside movement from 1.2526 had completed at 1.3385 already. Further decline would likely be seen in a couple of weeks and next target would be at 1.2850 area. Below this level would aim the bottom of the price channel on the daily chart. Resistance is at 1.3385, only break above this level could trigger another rise towards 1.3500.

USDCAD daily chart