USDCAD Weekly Analysis – July 15, 2018

USDCAD remains in the downtrend from 1.3385. Further decline could be expected in a couple of weeks, and next target would be at 1.2850 area. Below this level would aim 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