USDCAD Weekly Analysis – July 29, 2018

USDCAD broke below 1.3063 support, confirming 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 1.2900, followed by the bottom support trend line of the price channel on the daily chart. Resistance is at 1.3300, only break above this level could trigger another rise towards 1.3500.

USDCAD daily chart