USDCAD Weekly Analysis – July 8, 2018

USDCAD’s fall from 1.3385 extended to as low as 1.3076. Further decline is still possible in a couple of weeks and next target would be at 1.2850 area, followed by the bottom support trend line of the price channel on the daily chart. Resistance is at 1.3385, only a breakout of this level could trigger another rise towards 1.3500.

USDCAD daily chart